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

Objective

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).

Who Can Apply

• For-Profit Organization

Public, profit-motivated sponsors, limited distribution, nonprofit cooperative, builder-seller, investor-sponsor, and general mortgagors.

Who Benefits

• For-Profit Organization

All families are eligible to occupy dwellings in a structure whose mortgage is insured under the program, subject to normal tenant selection. There are no income limits. Projects may be designed specifically for the elderly and handicapped.

Assistance Types

• Loan Guarantee

Program Contact

carmelita_a._james@hud.gov
2024022579