Summary: The Madison
Group (TMG), a leading national lending source for Multifamily properties,
arranged the $1,750,000 refinance for a 27- unit townhome project. The
borrower’s goal was to put one loan across all 27 units, and to have this loan
be the last time they finance the property. The final loan terms were 3.60%
with a fixed 20-year term and a 20-year amortization. Even though these terms
are not readily available in the market, TMG was able to secure a loan product
that fit the borrowers for a 20-year fixed loan program with flexible
prepayment terms.
TMG collaborated diligently with the client, title, and
lender, to facilitate a closing before year end. TMG utilized its in-house
processing and closing team to assist the lender with the closing requirements.
The
borrower was very satisfied with the interest rate and terms they received.
Location: Utah
Property: 27 Townhomes
Loan Amount: $1,750,000
Interest Rate: 3.60%
Term: 20 years
Amortization: 20 Years
Prepayment: 5,5,4,4,3,2,1