Johnson Village is a 241-unit Class A, new construction community located in Charlottesville, Virginia. The community features six, 3-story buildings, four, 2-story buildings and two carriage homes along with a 5,500 SF clubhouse. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $34,561,600 at a fixed interest rate with a 40 year term.
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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
