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Brokerage
Posted: May 22, 2009
York of Arbor originates a $2.43 million Fannie Mae loan
Arbor Commercial Funding, LLC (Arbor), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, funded a $2.43 million loan under the Fannie Mae DUS Small Loan product line for the nine-unit property known as 81 Olive St.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05%.
The loan was originated by Stephen York, director, in Arbor's full-service New York lending office.
"The borrower's existing loan was approaching maturity and came to Arbor looking for long-term fixed-rate financing," said York. "We were pleased to deliver competitive terms, which included sizeable cash out."
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