14.135: Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate
Alternate Name: New Construction or Substantial Rehabilitation of Rental Housing -221d4
Overview
Program Number
14.135
Status
Active
Last Modified
Aug. 11, 2022
Date Posted
Aug. 11, 2022
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).
Type of Assistance
F - Guaranteed/Insured Loans
Applicant Eligibility
Public, profit-motivated sponsors, limited distribution, nonprofit cooperative, builder-seller, investor-sponsor, and general mortgagors.
Beneficiary Eligibility
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.
Related Programs
Additional Information
Grant Awards
Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate direct grants
Grant Opportunities