Arbor Closes $4,000,000 Fannie Mae DUS Coop Loan
- Feb 25, 2010
Topeka, Kansas- Arbor Commercial Funding LLC arranged the funding of a $4,000,000 loan under the Fannie Mae DUS MAH Coop Loan product line for the 200-unit complex known as Fox Ridge Townhouses in Topeka, Kansas.
The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.49 percent.
The loan was originated by Michael Jehle, Midwest regional director, in Arbor’s full-service Bloomfield Hills, Mich. lending office. “The 200 members of Fox Ridge Cooperative have major renovation plans with the proceeds from our loan,” said Jehle. “They are thrilled to have refinanced at such an attractive interest rate fixed for 30 years.” Arbor Commercial Funding is a wholly-owned subsidiary of Arbor Commercial Mortgage LLC.