MINNEAPOLIS, MN - Dougherty Mortgage LLC recently closed a $2.6 million Fannie Mae loan for the refinancing of Southbrook Gardens Apartments, a 100-unit multifamily affordable housing property located in Jackson, Mississippi. The property has a long term HAP contract and has 100% of the units set aside for residents with incomes at or below 60% of AMI. The 10-year term, 7-year yield maintenance refinance loan was arranged for Daniel Lake Partners, LP by Dougherty’s Austin, Texas office.
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 $2.8 billion of loans. Based in Minneapolis, Dougherty Mortgage also has additional offices in Colorado, Texas, Maryland and Montana.
For more information, please visit www.doughertymarkets.com