SAN MARCOS, TX - Dougherty Mortgage LLC, a full service national mortgage banking firm, recently closed a $5.5 million Fannie Mae loan for the acquisition financing of Millennium on Post, a 51-unit market rate student housing property located in San Marcos, Texas.
Millennium on Post is the newest gated property for student living in San Marcos and is located minutes from the Texas State University campus.
The Fannie Mae 12-year term loan has a 30-year amortization schedule and was arranged through a partnership with Old Capital Lending and Dougherty’s Minneapolis and Vienna, Virginia offices for borrower 1651 Millennium Post Road, LLC.
Dougherty Mortgage LLC is a full-service, nationwide mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.
In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $4.6 billion of loans. Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program. Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Illinois, Tennessee, Texas and Virginia.
For more information, please visit www.doughertymortgage.com