Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate

Department Of Housing And Urban Development, Asst Secretary For Housing--federal Housing Commissioner

Section 221(d)(4) insures mortgage loans to facilitate the new construction or substantial rehabilitation of multifamily rental or cooperative housing for moderate-income families, elderly, and the handicapped. Single Room Occupancy (SRO) projects may also be insured under this section. (See program 14.184).

Jargon-free version

Helps moderate-income families and the elderly build or improve rental and cooperative housing. It provides long-term mortgages to make financing easier.

Quick Facts

Funding
Contact for details
Deadline
Rolling
Status
Rolling Intake
Category
Housing & Community Development
Organization
Department Of Housing And Urban Development, Asst Secretary For Housing--federal Housing Commissioner

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What Is This Program?

Section 221(d)(4) insures lenders against loss on mortgage defaults. Section 221(d)(4) assists private industry in the construction or rehabilitation of rental and cooperative housing for moderate-income and displaced families by making capital more readily available. The program allows for long-term mortgages (up to 40 years) that can be financed with Government National Mortgage Association (GNMA) Mortgage Backed Securities.

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carmelita_a._james@hud.gov
2024022579

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This program accepts applications on a rolling basis.

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