MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $6.5 million Fannie Mae loan for the refinancing of Long Lake Villas, a 59-unit multifamily affordable housing property located in Stillwater, Minnesota.
The Property now consists of 59 units, located throughout seven two-story townhome buildings and three single-story townhome buildings for a total of 10 buildings.
The 12-year term, 30-year amortization loan was arranged for borrower Long Lake Villa 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