NEW PRAGUE, MN - In partnership with the Minnesota Housing Finance Agency, Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed a $2 million HUD 223(f) loan for the refinance of Westgate Townhomes, a 37-unit affordable multifamily rental townhome property with a Section 8 HAP Contract, located in New Prague, Minnesota.
The loan was underwritten by the Minnesota Housing Finance Agency for borrower New Prague Westgate Townhomes LLC and assigned to Dougherty Mortgage LLC to close and service the loan. The principal of the borrower entity is Southwest Minnesota Housing Partnership. Westgate Townhomes is a newly renovated, smoke free property offering private entrances, neutral décor, off street parking, and a playground.
Dougherty Mortgage LLC is a full service mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.
In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $3.5 billion of loans. Based in Minneapolis, Dougherty Mortgage also has additional offices in California, Colorado, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymarkets.com