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.
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