Southside Village Apartments is an existing 130-unit affordable multi-family apartment community located in Lexington, North Carolina. Originally built in 1965 and substantially rehabilitated in 2016 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the property consists of 68 residential buildings with all of the community’s units covered under a long-term Section 8 contract. AGM obtained a HUD insured mortgage of $4,957,200 under the 223(a)(7) refinance program. The refinance of the existing mortgage reduced the fixed interest rate while extending the mortgage term.
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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
