UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,263,100 loan under the Fannie Mae DUS® product line to refinance the 292-unit complex known as Villa Acapulco Apartments (photo above) in Houston, TX.The 7-year loan amortizes on a 30-year schedule and carries a note rate of 5.93 percent. DUS and 3MaxExpress are registered marks of Fannie Mae.
The loan was originated by Matt Norman,(top right photo) Director, in Arbor’s full-service Dallas, TX lending office. “Although it was a refinance, Arbor was under time pressure to close the loa
n by month-end to facilitate the borrower’s previous loan payoff. Despite this, and an ever-changing rate and underwriting environment, Arbor was able to close the loan on time, building both the borrower’s and the broker’s trust in Arbor.”CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298
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