ROCHESTER, N.Y. (October 15, 2010)
Security Mortgage Group is pleased to announce the closing of two mortgages in October 2010. The communities refinanced a total of nearly 300 home sites in two states.
Marina Cove Manufactured Housing Community of Avon Park, Florida refinanced its 214 home sites for $4,000,000 on October 14, 2010. This was structured with a 10 year term and a 30 year amortization schedule.
Harbison Canyon Estates MH Community acquired $650,000 in refinancing on October 7, 2010. The El Cajon, California community has 50 MH home sites and 20 RV campground sites.
Security Mortgage Group is the premier national lending source for Manufactured Home Communities, having received the "Manufactured Home Community Lending Broker of the Year" award in 2004, 2005, 2006, and 2009 from the Manufactured Housing Institute.