Sterling Green Village Apartment Homes is an existing 150-unit affordable multifamily apartment community located in Channelview, Texas. The project is located on 16.34 acres of land and consists of 150 one and two-story buildings and a separate clubhouse building. All of the units are restricted to tenants earning at or below 60% of area median income (AMI). Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $13,248,000 with a 35-year term at a fixed interest rate.
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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
