Riverwoods at Tollgate is an 84 unit affordable community located in Abingdon, Maryland. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD insured mortgage of $8,229,000 at a fixed interest rate with a 40 year term. Equity of approximately $10,008,000 was provided through the sale of 9% low income housing tax credits. Harford County HOME funds in the amount of $300,000 were provided as secondary debt.
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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
