MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $1 million Fannie Mae loan for Valley Estates of Mountain Home Phase II, a 48-unit multifamily affordable housing property located in Mountain Home, Arkansas.
The 48 units are housed in two three-story buildings that were built in 2017 on approximately 5.217 acres. Phase II amenities include a playground and covered outdoor patio area and Phase I of the property includes a clubhouse/leasing office, swimming pool, fitness center, kitchenette and lounge area.
The 18-year term, 30-year amortization loan was arranged for borrower Valley Estates of Mountain Home Phase II, Limited Partnership.
Dougherty Mortgage LLC is a full-service, nationwide 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 $7.1 billion of loans. Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.
Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com