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Dougherty Mortgage Closes $7.5 Million Fannie Mae Loan for Northpointe Village Apartments

MINNEAPOLIS, MN – The Mississippi office of Dougherty Mortgage recently closed a $7.5 million Fannie Mae loan for the refinancing of Northpointe Village Apartments, a 93-unit market rate multifamily housing property located in Jackson, Mississippi. 

The property was constructed in 1985 and consists of 28 two-bedroom/two-bathroom units, 56 two-bedroom/two-and-a-half bathroom units, 4 three-bedroom/two-and-a-half bathroom units, and 5 three-bedroom/three-and-a-half bathroom units in 15 residential buildings. Community amenities include clubhouse, swimming pool, hot tub, gazebo, sundeck, picnic area, and controlled gated access. 

The 12-year term, 30-year amortization loan utilized Green Rewards and was arranged for borrower Northpointe Village Apartments, 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 $6.7 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, Georgia, Illinois, Mississippi, Tennessee and Texas. 

For more information, please visit www.doughertymortgage.com