Millstone at Kingsview is an existing 195-unit multi-family apartment community located in Germantown, Maryland. The property was originally constructed in 2014 utilizing a HUD-insured 221(d)(4) mortgage. The community consists of three separate four-story elevator-serviced buildings and a central clubhouse building. The majority of the community’s units are market rate with the remainder (64 units) designated as Moderately Priced Dwelling Units (MPDU’s). The community boasts an excellent amenity package including a pool, sundeck, fitness center, business center, resident lounge, and package service. AGM obtained a HUD insured mortgage of $29,061,300 under the 223(a)(7) refinance program. The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to 40 years.
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FHA Proposals on New MIP Premiums and Eliminating Green MIP
Late yesterday, HUD announced important proposed changes in mortgage insurance premiums (MIP) for FHA-insured multifamily loans. In a notice to be published in the Federal
