Arbor Locks in 5.95% for 10-Year Terms on Two Small Loans

McKinleyville, Calif. --Arbor Commercial Funding LLC recently oversaw the funding of two loans under the Fannie Mae DUS Small Loan product line.
  • by the Editors of Multi-Housing News | Aug 23, 2010

McKinleyville, Calif. –Arbor Commercial Funding LLC recently oversaw the funding of two loans under the Fannie Mae DUS Small Loan product line. The loans were for:

-Sandpiper in McKinleyville, Calif. The 28-unit complex received $1,430,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

-Bates Court Apartments in McKinleyville, Calif. The 20-unit complex received $1,185,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

The loans were originated by Stephen York, Director, in Arbor’s full-service New York, N.Y., lending office.

“The borrower’s goal with the properties was to refinance into 10-year loans at attractive rates,” York said. “We were pleased to help the borrower accomplish his objective and look forward to future opportunities together.”