Arbor Closes $1,878,700 Fannie Mae DUS Small Loan
- May 25, 2010
Boston—Arbor Commercial Funding LLC announced the recent funding of a $1,878,700 loan under the Fannie Mae DUS Small Loan product line for the 16-unit complex known as 1322 Commonwealth Avenue in Boston.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.
The loan was originated by John Kelly, vice president, in Arbor’s full-service Boston lending office. “In a challenging financing market, Arbor was pleased to provide financing on this acquisition,” says Kelly. “The deal allowed for 80 percent loan to value, non-recourse debt at what continue to be historically low interest rates.”