The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.24%.
The loan was originated by Michael Jehle, Arbor's Midwest regional director and was underwritten in Arbor's Bloomfield Hills office.
"This loan was made to a repeat customer of Arbor, well acquainted with our ability to perform on time and on terms," Jehle says. "The loan features of the Fannie Mae 3MaxExpress program were exactly what the borrower was looking for."
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