How AGM is Leading Affordable Housing Financing in Maryland and Across the Nation
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Over the past ten years, Baltimore-based AGM Financial Services has financed nearly 2,700 affordable rental units in twenty-two projects with our developer clients and Maryland's Community Development Administration (CDA), the state's housing finance agency. These projects, serving low-income families and the elderly, provide critically needed affordable housing in Maryland.
AGM's $230 million in long-term FHA-insured financing has leveraged an additional $400 million in LIHTC equity and CDA subordinate debt in projects across the state. The projects - roughly split between substantial rehabilitation of existing properties and the new construction – have been developed by a range of local and national for-profit and not-for-profit developers.
“Affordable housing has always been very important to us at AGM” according to Myles Perkins, AGM's president. “We finance affordable housing all over the country, but we are particularly pleased to be a part of the solution here at home in Maryland.”
About AGM Financial
AGM is a privately held company headquartered in Baltimore, MD, and a nationwide licensed FHA Mortgagee (lender) providing financing for both Market Rate and Affordable Housing communities. Founded in 1990, AGM is a leading FHA lender and GNMA seller/servicer. From new construction and substantial rehab to acquisition or refinance — AGM gets the deal done. Family-owned with over 30 years of experience, the firm has closed over $9 billion in FHA-insured multifamily project loans nationwide. We underwrite, fund, and service all of our loans. Developers and owners can count on AGM to be accessible, transparent, consistent, and ready to lend. To learn more about AGM, call 800.729.4266 or visit agmfinancial.com.
