August 23, 2011
ROCHESTER, N.Y. (August 23, 2011)
Security Mortgage Group is proud to announce the closings of three new loans in August of 2011. Interest rates are currently at historic lows; many clients have taken advantage of this opportunity in the marketplace and have convened with Security Mortgage Group to review their financial position and future financial goals. Additionally, 10 year terms and 30 year amortizations are now once again widely available. All three of the mortgages that were closed to date in August had this feature.
Friendly Village Manufactured Home Community of Toms River, NJ obtained permanent mortgage financing of $2,150,000 on August 23, 2011. The community has 180 home sites.
On August 15, Timbercrest Village Manufactured Home Community closed on refinancing of $9,950,000. The 456-site park is located in Spring, Texas. Timbercrest has a wide range of amenities available to tenants including a basketball court, playground, professional landscaping and entrance, and an office/meeting room. This community is owned by a repeat client.
Grandshire Estates secured $3,810,000 in permanent mortgage financing on its 151 home sites in Fowlerville, Michigan on August 3, 2011. Grandshire is a 3.5 star community with on-site management, underground utilities, a playground, and paved, curbed, lit streets.
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. We are the only mortgage brokerage specializing in Manufactured Home Communities that has closed loans in