Stone Pointe Apartments is an existing 288-unit Class A multifamily community located in Woodbridge, Virginia. Located on 8.96 acres of land, the project consists of four separate four- and five-story elevator-serviced apartment buildings, and a clubhouse building. The community has an extensive amenity package including a swimming pool with sundeck, club room, media room, fitness gym, structured parking, grilling stations, and package receiving services. Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $59,500,000 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
