Loan Amount: $3,050,000
Property Type: Suburban Apartment Complex
Loan Type: Freddie Max Small Loan Balance Program
Loan Term: 10-years
Georgetown South Apartments
Funding of this $3,050,000 loan was with Freddie Mac Small Balance Loan Program which provided the client with a low 10-year term fixed rate accompanied with a 30-year amortization. In addition to the low interest rate the lender did not collect replacement reserves as you often find in Fannie Mae and CMBS loans. The client was able to pull cash out to disburse between the partners.