Monticello Station is a 121-unit mixed use community located in Norfolk, Virginia. The project includes 43 one-bedrooms, 63 two-bedrooms, 13 three-bedrooms and 2 four-bedrooms. This four-story elevator building includes such amenities as two open courtyards with gas grills, fire pit, and a pool. The project was built in 2010 using the HUD Section 221(d)(4) program. Using the HUD Interest Rate Reduction program for currently insured properties, AGM reduced the interest rate with a new mortgage of $33,543,968 and increased cash flow.
Blog Articles
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
