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March 2003

$1.36M loan with an interest rate below 5.5%

Gomberg Financial Services of Marblehead, MA is pleased to announce that we have arranged a $1,360,000 purchase loan using the Fannie Mae Three Max Express Program.  The 10-year note is amortized over 25 years and has a fixed interest rate below 5.5%.

The loan has an assumable mortgage feature as well as a second mortgage feature, and is non-recourse.   The subject property is a 27-unit apartment building located in Lynn, MA.

Perkins Properties of Lynn, MA will manage the property.  Gomberg Financial Services has now originated five Fannie Mae loans with Perkins Properties encompassing over 130 units.

Gomberg Financial Services has closed over 25 Fannie Mae loans over the past 18 months.  Please contact our office for more information.

77 Green St., Lynn, MA