Technical company

Paragon Mortgage Corporation arranges new $ 22.5 million HUD 221 (d) (4) construction loans for multi-family properties in Arizona

“These new construction loans are automatically converted to fully amortizing 40-year loans, which at these historically low interest rates will translate into a guaranteed low interest rate for the life of these loans,” he said. Swanson said.

Property details
12e of Highland Apartments will be an urban boutique multi-family rental building on 1.09 acres located downtown Central phoenix, with easy access to the main transport arteries and Downtown phoenix. The project will consist of a new 34-unit three-storey apartment building with swimming pool, spa, lift-less access and elevator from the first-floor parking garage.

2sd and civic apartments will be an urban boutique multi-family rental property on a 0.84 acre site in historic Old Town Scottsdale, within walking distance of restaurants, shopping, nightlife, museums and sporting venues, as well as ‘easy access to transport arteries. The project will consist of a new 39-unit, three- and four-story apartment building with a swimming pool, spa, fitness center and yoga terrace, as well as walking and elevator access from the building. first floor parking garage.

About Paragon

Paragon Mortgage Corporation is an FHA, HUD MAP, and LEAN approved mortgage lender that has focused solely on HUD-assured financing for over 33 years. Based at Phoenix, Arizona, Paragon Mortgage is known for its highly experienced staff representing decades of HUD / FHA loan creation, underwriting and processing. This experience combined with Paragon’s long standing reputation within the industry and relationships within the development and health community has resulted in the closure of more than $ 3 billion in FHA insured loans. Paragon Mortgage specializes in FHA insurance loans for a variety of project types – multi-family refinancing, acquisition, new construction, substantial rehabilitation in addition to senior housing and health care.

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SOURCE Paragon Mortgage Company

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