M&T Realty Capital Corporation has closed a $23,025,300 FHA-insured loan for the refinance of a 160-unit multifamily property located in Frederick, MD. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) Federal Housing Authority (FHA) 223(a)(7) program.
The 40-year, 3.95% fixed-rate loan is fully amortizing. The project qualified for the HUD MAP Green MIP reduction.
The transaction was led by Managing Directors Paula Quigley and Sandra DeFelice of M&T Realty Capital Corporation’s Baltimore office. Ms. Quigley also serves as the FHA/HUD Program Manager for M&T Realty Capital Corporation.
As one of the nation’s leading firms providing FHA-insured mortgages, M&T Realty Capital Corporation provides financing under a variety of HUD’s programs
. These include financing for the construction or substantial renovation of rental housing (pursuant to Section 221(d)(4)); the purchase or refinancing of existing multifamily housing projects (pursuant to Section 223(f)); skilled nursing or assisted living facilities (pursuant to Section 232/223(f)); hospitals (pursuant to Section 242) and secondary debt (pursuant to Section 241).
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.