Dougherty Mortgage originates and services FHA insured loans and issues Ginnie Mae securities for the purpose of constructing new multifamily developments; or substantially rehabilitating those projects where the cost of improving the property exceeds 15% of the replacement cost post closing or where improvements exceed $6,500 per unit as adjusted by HUD. Transactions may include the use of taxable and/or tax- exempt debt, multiple sources of funds, and Low Income Housing Tax credits. The programs allow for up to a 40 year loan term and are non-recourse to the borrower. The following term
sheet outline the basic program parameters:
