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SPRING CREEK TOWERS

FHA New Construction & Substantial Rehab

Endorsed March 17, 2021

FHA #07235695

Deal Details

Location
DECATUR, Illinois
Mortgage Amount
$11.9M
Units
137
Program
New Construction & Substantial Rehab
Lender
Merchants Capital Corp.
Fiscal Year
FY2021
LIHTC
Yes

Current Loan Status

Active
Outstanding Balance
$11.1M($11.9M original)
Interest Rate
2.43%
Maturity
May 2057(31 years remaining)
Original Term
35 years
Holder
Merchants Capital Corp.
Servicer
Merchants Capital Corp.

Source: HUD BF90 Active Insured Mortgages · Data as of February 2026

Data Sources

Endorsement data: HUD FHA Multifamily Firm Commitments and Endorsements Database

Active loan data: HUD BF90 Active Insured Mortgages, as of February 2026

hud.gov multifamily data

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