UNIONDALE, NY- - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,950,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing Section 8 100 percent Project-Based HAP Contract product line for the 50-unit complex known as Southside Apartments in Rocky Mount, NC.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.12 percent.
The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office. “This financing represents our ongoing commitment to the Fannie Mae DUS® MAH program,” said Edwards. “In addition, we were pleased with the opportunity to work with a long-term client and look forward to working with the borrower on future financings.”
Contact: kmaxey@arbor.com
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