Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects
Department Of Housing And Urban Development, Asst Secretary For Housing--federal Housing Commissioner
To provide mortgage insurance to HUD-approved lenders for the purchase or refinancing of existing multifamily housing projects, whether conventionally financed or subject to federally insured mortgages at the time of application for mortgage insurance. The program allows for the long term mortgages that can be financed with Ginnie Mae Mortgage-Backed Securities.
Jargon-free version
Helps property owners finance the purchase or refinancing of multifamily housing projects. Provides long-term mortgages with better interest rates and terms.
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