September 19, 2021

MP Now News

Mortgage News

Paragon Mortgage Provides $53.4 Million New Construction Loan for Multifamily Property in Colorado Springs, CO

“Eldorado Springs Apartments will meet the need for new apartment buildings in the growing – but underserved – area in the southwest Colorado Springs“Said Kim Taynton, Vice President and Senior MAP Underwriter at Paragon Mortgage Corporation.

Eldorado sources, the start of which is planned July 2021, is a 3-story, walk-up, multi-family apartment complex that represents an ongoing commitment to building community-oriented properties conveniently close to shopping, dining and entertainment, while emphasizing eco-friendly building design. Of the 236 units, 86 are one-bedroom units, 140 are two-bedroom units, and 10 are three-bedroom units. In addition, the community has a guarded entrance, clubhouse, heated pool and spa, 24-hour fitness center, business center, barbecue and recreation areas, bicycle storage, 467 parking spaces and WiFi in public areas.

Equipment of the unit
Units will be well-appointed with nine-foot vaulted ceilings, ceiling fans, individually controlled heating and air conditioning, private balconies or patios, walk-in closets, bathtubs, granite or quartz counters, and Energy Star appliances, including freeze-free refrigerators with ice makers, self-cleaning ovens, Dishwasher, microwave, garbage disposal, and large washers and dryers in every unit.

About Paragon
Paragon Mortgage Corporation is an FHA, HUD MAP, and LEAN approved mortgage lender that has focused exclusively on HUD-insured financing for over 34 years. Headquarters in Phoenix, Arizona, Paragon Mortgage is known for its highly experienced staff who have decades of experience in issuing, underwriting and processing HUD / FHA loans. That experience, combined with Paragon’s longstanding reputation in the industry and relationships within the developer community, has resulted in over $ 3 billion for FHA-insured loans. Paragon Mortgage specializes in FHA insurance loans for a variety of project types – market price refinance and acquisition finance, affordable apartment buildings, and healthcare.

For more information visit:

Lilla Abegg-Swanson
Vice President
Paragon mortgage
(602) 317-8798
[email protected]

SOURCE Paragon Mortgage Corporation

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