UNIONDALE, NY, Oct. 29, 2008- – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $250,000 loan under the Fannie Mae DUS® Supplemental product line to refinance the 102-unit complex known as Mayflower Townhouses Cooperative in Plymouth, MI. (top right photo)The 16.5-year loan amortizes on a 16.5-year schedule and carries a note rate of 6.49 percent.
The loan was originated by Michael Jehle, (bottom left photo) Director, in Arbor’s full-service Bloomsfield Hills, MI lending office.
“The members of this cooperative desired add
itional liquidity for various capital improvement projects to their property” said Jehle. “Arbor was able to supply their need with a loan that amortizes on the same schedule as their Arbor / Fannie Mae first mortgage.”
Contact: Ingrid PrincipeTel: (516) 506-4298
iprincipe@arbor.com
itional liquidity for various capital improvement projects to their property” said Jehle. “Arbor was able to supply their need with a loan that amortizes on the same schedule as their Arbor / Fannie Mae first mortgage.”Contact: Ingrid PrincipeTel: (516) 506-4298
iprincipe@arbor.com
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