Summary: The Madison
Group (TMG), arranged the financing for a $861,000 rate and term refinance
for a student housing property in Utah. The borrower’s goals were to lower
their interest rate with a 10-year term and close as expeditiously as possible.
TMG worked closely with the client and the lender to get the
loan closed with a great rate and term. The underwriting occurred during the
holidays, but TMG managed to close the loan in the month of January - meeting the borrower’s
goals.
Location: Utah
Property: Student
Housing Apartments
Loan Amount: $ 861,000
Interest Rate: 4.125 %
Term: 10 Years
Amortization: 25 Years
Prepayment: No prepayment
penalty
LTV: 36%