Heritage Park I is a 100-unit existing income-restricted property located in Fredericksburg, Virginia that was originally built in 1972 and renovated in 2003. The 2003 renovation was financed by AGM under the HUD 221(d)(4) program. Using the HUD 223(a)(7) program for currently insured properties AGM was able to reduce the interest rate with a new mortgage of $5,137,700.
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There are Encouraging Signs, But No Clear Direction…Yet
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
