MINNEAPOLIS, MN - The Oakbrook, Illinois office of Dougherty Mortgage recently closed a $2.2 million Fannie Mae loan for the refinancing of Eagle Ridge Square, a 104-unit multifamily affordable housing property located in Flint, Michigan.
The property was built in 1999 and 100% of the units are affordable at or below 60% of AMI. The property features a clubhouse, daycare facility, swimming pool and garage parking.
The 12-year term, 30-year amortization loan was arranged for borrower Eagle Ridge Square Apartments Limited Dividend Housing Association L.L.C.
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 $6.2 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