BellaNova at JubiLee Park is an existing 312-unit market rate multi-family apartment community located in Orlando, Florida. The property was originally built in 2019 utilizing a HUD-insured 221(d)(4) mortgage. The community consists of 26 two-story apartment buildings, five detached garages, and a centrally located clubhouse building. The community’s amenity package includes a pool and sundeck area with outdoor kitchen, a large fitness area with indoor basketball court, and a playground area with green space. AGM obtained a HUD insured mortgage of $52,502,500 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
