Merritt Station Apartments is a 72-unit new construction affordable multi-family community located in Dundalk, Maryland. The project consists of two, four-story elevator-serviced buildings situated on a 4.47 acre site. Using HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $6,875,400 at a fixed interest rate with a 40-year term. Equity of approximately $15,373,463 was provided through the sale of 9% low income housing tax credits (LIHTC).
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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
