Overlook at Avalon is a 114-unit affordable multi-family apartment community located in Frederick, Maryland. Built in 2017 with a HUD-insured mortgage, these rental townhomes include a one-car garage. All of the community’s units have income restrictions for households earning a maximum of 50%-60% of area median income (AMI). AGM achieved significant savings in annual debt service by obtaining a new HUD insured mortgage of $19,002,700 under the 223(a)(7) refinance program, reducing the fixed interest rate and mortgage insurance premium while extending the term of the mortgage to 40 years.
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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
