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Paragon Mortgage Corporation Arranges $22.5M HUD 221(d)(4) New Construction Loans for Multifamily Properties in Arizona


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PHOENIX, Dec. 10, 2020 /PRNewswire/
 Jim Swanson, President of Paragon Mortgage announced today that Paragon arranged the HUD 221(d)(4) New Construction Loans for the development of two multifamily properties -
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nd and Civic Apartments in Scottsdale, Arizona.  Paragon secured New Construction loans for both properties through the US Department of Housing and Urban Development s 221(d)(4) Mortgage Insurance Program.  HUD-insured financing provides both properties with a 40-year, fully amortizing low interest rate, fully assumable, non-recourse loan. 
(PRNewsfoto/Paragon Mortgage Corporation)
These new construction loans automatically convert to a 40-year, fully amortizing loans, which at these historic low interest rates will result in a guaranteed low interest rate for the entire duration of these loans, stated Swanson. ....

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