Damon Reed of Capital One has engineered a Fannie Mae $4.7 million fixed-rate refinancing package for a 309 home site manufactured home community (MHC)in Novi, Michigan, about 30 miles northwest of Detroit. Built in two phases, 212 sites of Country Cousin Manufactured Home Community were constructed in 1966, and 99 home sites were added in 1996.

The ten-year loan has 9.5 years of yield maintenance, as rebusinessonline informs MHProNews, and a 30-year amortization schedule. ##

(Photo credit:Country Cousin Manufactured Home Community)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.