AGM Financial Services, Inc. is proud to announce the recent closing of a $20,837,400 mortgage for the construction of Willow Manor at Cabin Branch located in Clarksburg, Maryland. AGM provided a 40-year, FHA insured construction/permanent loan under the Section 221(d)(4) program for the development, which also utilized 4% Tax Credits and Tax Exempt Bonds. This community will consist of 125 elevator-served, age restricted units in a single four-story building. Community amenities will include a large multipurpose room with a café, a parlor area with seating and computers for resident use, a fitness center/yoga room, and outdoor walking trails. All of the apartments will be leased to tenants earning 60% or less of the Area Median Income.
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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
