Chatham Village Apartments is an existing 94-unit mixed-income family apartment community located in Easton, Maryland. The project is located on 11.19 acres of land and consists of 17 one-story apartment buildings and a separate clubhouse building. The units at Chatham Village Apartments consist of market rate rentals as well as units restricted to tenants earning at or below Fair Market Rent (FMR), as well as tenants earning at or below 60% of area median income (AMI). Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $7,218,000 with a 35-year term at a fixed interest rate.
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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
