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SPRING LAKE APARTMENTS
FHA New Construction & Substantial Rehab
Endorsed May 5, 2023
FHA #07135947
Deal Details
- Location
- LANSING, Illinois
- Mortgage Amount
- $2.7M
- Units
- 37
- Lender
- Merchants Capital Corp.
- Fiscal Year
- FY2023
- LIHTC
- Yes
Current Loan Status
Active- Outstanding Balance
- $2.6M($2.7M original)
- Interest Rate
- 5.40%
- Maturity
- January 2065(39 years remaining)
- Original Term
- 40 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