New York-based Hunt Mortgage Group launched a new fixed rate loan program, and initially earmarked $300 million in capital for the offering. The product offers borrowers a seven-year fixed rate loan, collateralized by multifamily and commercial real estate properties for acquisitions or refinancing.
Hunt’s Barry Polen said, “This new loan product enables us to expand our stabilized lending products beyond our robust agency programs. This fixed product offers a unique financing option with a spread lock, surety of close and continuity with Hunt Mortgage Group for the life of the loan.”
The CRE financing firm will provide loans from $7.5 million to $25 million nationwide. The program is designed to appeal to providers of conduit debt, because it allows borrowers to lock in spreads for a seven-day period during the loan application process, and a 45-day period from the receipt of an executed loan application until the loan closes.
Pictured (L to R) Hunt’s Barry Polen and Michael Becktel
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