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AGM Financial Services, Inc. is a leading nationwide FHA Mortgagee and Multifamily Accelerated Processing (MAP) lender providing financing for both the market rate and affordable housing industries. AGM arranges federally insured debt and credit enhancement for apartment projects, assisted living facilities, and nursing homes.

The AGM Team

Margaret Allen

Margaret Allen
CEO and President
mallen@agmfinancial.com
443-573-2045

 

AGM News

Collingswood: Dialysis Unit Installed
Collingswood Nursing Home is a 160-bed nursing home in Rockville, Maryland.

March 25, 2008 - The Arbors At Arundel Preserve received the MNCBIA/NVBIA 2007 Monument Award for the best garden style multifamily property and the Baltimore Business Journal?s "Best Residential Development". (more)...

 

Industry News

March 19, 2009 - The U.S. Department of Housing and Urban Development (HUD) today released income limits for 2009.

September 25, 2008 - The U.S. Department of Housing and Urban Development (HUD) issued its mortgage insurance premiums (MIPs) for FHA multifamily mortgage insurance programs.
See Multifamily Mortgage Insurance Premiums (MIPs) and Credit Subsidy Obligations for Fiscal Year (FY) 2009 for more information.

 

 

 

Our Recent Closings title graphic

Cascades at Woods Corner
CascadesCascades is a 226-unit family apartment community to be newly constructed in Virginia Beach, Virginia. The project includes 82 one-bedrooms, 116 two-bedrooms, and 28 three-bedrooms. Amenities include 28 detached garages, 83 vaulted ceilings, 54 water views, and elevator access to 46 units, plus a pool, clubhouse, and 25,000 square feet of ground floor retail space. The property is three-stories with a mix of walk-up and elevator buildings. Using HUD's Section 221d4 program for new construction, AGM obtained a HUD-insured mortgage of $33,455,600 at 6.25% interest with a 40-year term.

 

Summit Woods
Summit WoodsSummit Woods is a 198-unit family apartment community to be substantially rehabilitated in Gaithersburg, Montgomery County, Maryland. The property had been vacant for two years and scheduled for demolition when the owners decided to rehabilitate the units, add a pool and clubhouse, and improve the grounds. The community offers three-story walk-up buildings. Using HUD's Section 221d4 program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $32,941,600 at 6.29% interest with a 40-year term. The project includes 38 one-bedrooms, 146 two-bedrooms, and 14 three-bedrooms. The property is surrounded on two sides by park land.

 

Collingswood Nursing Home
Collingswood Nursing HomeCollingswoodCollingswood Nursing Home is a 160-bed nursing home in Rockville, Maryland. The substantial rehabilitation of this property was accomplished in 1999 using a HUD-insured first mortgage obtained by AGM. Because HUD offers second debt for additions and improvements to currently insured properties, AGM recently arranged a $482,700 second debt insured pursuant to Section 241. These funds will be used to install a kidney dialysis unit to serve residents and the wider community. The interest rate is 6.95%.

 

Chatham Village
Chatham Village is a 94-unit family property located in Easton, Maryland. In 1992 AGM assisted in the original construction financing for this property from the State of Maryland. This year, AGM brokered the Fannie Mae refinance of Chatham Village to Wells Fargo, NA to produce a loan of $4,745,000. The new loan represents 63% Loan to Value with an interest rate of 6.16%. The refinancing repaid the original debt to the State and provided $487,000 for repairs and upgrades. The property includes 1 studio, 81 one-bedrooms, 9 two-bedrooms, and 3 three-bedrooms.

Tanglewood
TanglewoodChatham VillageTanglewood is a 180-unit family apartment community to be built in Elizabeth City, North Carolina. The community offers three-story walk-up buildings with a pool and clubhouse. Using HUD's Section 221d4 New Construction program, AGM obtained a HUD-insured mortgage of $18,258,400 at 6.44% interest with a 40-year term. The loan will be funded pursuant to HUD's program for insured advances. The project includes 36 one-bedrooms, 114 two-bedrooms, and 30 three-bedrooms with 27 detached garages and 60 vaulted ceilings.

To review additional closings please follow this link.