8 million first mortgage
and a $250,000 line of credit for a 90-unit co-op located at 400 Fulton Street in Farmingdale, NY; a $2.
5 million first mortgage
and a $100,000 line of credit for a 143-unit co-op located at 63-33 98th Place in Rego Park, N.
MINNEAPOLIS -- TopLine Federal Credit Union announced today that it has hired Mary Wetterlin as General Manager to develop and implement a new first mortgage
division at its Maple Grove, Minnesota, headquarters.
0 million subordinated interest in a first mortgage
4 million first mortgage
and a $50,000 line of credit for a 110-unit co-op located at 860 Grand Concourse in Bronx, NY; a $2.
In a piggyback structure, the first mortgage
is a loan covering 80 percent of the property's value, often at a fixed rate, but increasingly at an adjustable rate.
a $15 million junior participation in a $95 million first mortgage
secured by the Adam's Mark Hotel complex in Denver, Colorado.
6 million in loans in November, including a $16 million first mortgage
and a $500,000 line of credit for Cherokee Owners Corp.
Third Federal Savings and Loan enters its first mortgage
season in the Florida market with a new second-home mortgage product.
2 million in loans during October, including the largest deal of the month, a $10 million first mortgage
and a $1.
With a 125 percent first mortgage
, a buyer in this situation would find it easier to qualify by being able to pay off his or her debt.
May's still-low interest rate environment influenced co-operative boards to continue to borrow money in the form of first mortgages
and lines of credit," commented Howe.
Howe arranged more than $11 million in loans for area cooperatives in July, including a $4 million first mortgage
and a $500,000 line of credit for a 117-unit co-op located at 16 North Broadway in White Plains, NY.
Howe arranged more than $45 million in loans for area cooperatives in November, including a $19 million first mortgage
and a $2.
The deals included a $3 million first mortgage
and a $2 million line of credit for an 85-unit co-op located at 40 East 88th Street in Manhattan.