News: Front Section
Posted: September 9, 2009
Edwards of Arbor closes two Fannie Mae DUS loans totaling $2.3 million
Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded two loans totaling $2.3 million under the Fannie Mae DUS product line. These loans include:
*Terrace Park Apartments, West Haven, a 50-unit complex in the amount of $2 million funded under the Fannie Mae DUS Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.06%.
*Westbrook Park Apartments, Seymour, a 37-unit complex in the amount of $300,000 funded under the Fannie Mae DUS product line. The 5-year loan amortizes on a 30-year schedule and carries a note rate of 6.08%.
The loans were originated by John Edwards, vice president, in Arbor's Boston, Mass. lending office. "These financings represent a great opportunity to work with a repeat client while providing flexible loan terms," said Edwards.
"I cannot emphasize enough the importance we place on our long-term business relationships."
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