M&T Realty Capital Corporation®
has closed a $4,150,000 Fannie Mae loan for the refinance of a 93-unit multifamily property located in Niagara Falls, NY.
The 7-year loan offered a low 4% rate and included 3-yrs of interest-only payments followed by 30-years of amortization.
The transaction was led by Senior Vice President Zach Casale of M&T Realty Capital Corporation’s Buffalo, NY office. “This transaction met Fannie Mae’s mission of providing affordable housing units and in-turn sponsors benefited from a significantly reduced interest rate spread. Our clients were extremely happy with our timely execution and we’re proud to be part of Fannie Mae’s focus to make workforce housing possible”.
M&T Realty Capital Corporation has been a Fannie Mae-approved Delegated Underwriting and Servicing (DUS®) lender since 1989.
As a Fannie Mae DUS® lender, M&T Realty Capital Corporation originates and services loans for apartment properties, including seniors housing, student housing, manufactured housing communities, cooperatives, and affordable housing.
For specific loan information on this program, please call us at 1-800-737-2344 or request a loan quote.
All loans and all terms referenced herein are subject to receipt of a complete application, credit approval, and other conditions.