FHA-insured · 221(d)(4) new construction or substantial rehab
1435 Mulberry Apartments
1435 Mulberry St, Des Moines, IA 50309 · 202 units
1435 Mulberry Apartments carries a $44.5 million FHA-insured mortgage at a 6.05% note rate, endorsed by HUD on June 27, 2025 and maturing in June 2067. HUD's file put the amortized balance at $44,491,700 as of September 30, 2026, with 40 years 9 months left on the term.
0% repaid
Would a 223(a)(7) refinance lower the payment?
This loan's 6.05% rate is above the 5.54% median on HUD apartment loans endorsed in the 12 months before September 30, 2026. At that median, on the same balance and remaining term, principal and interest would run about $230,000 a month instead of about $245,000: roughly $189,000 a year less, before mortgage insurance, closing costs and any prepayment premium in the note.
A 223(a)(7) is HUD's streamlined refinance of a loan it already insures. No cash out, and the new loan can't exceed this loan's original amount. Run this property through the 223(a)(7) estimator with your own rate, term and costs.
Own this property?
Send it to the commercial mortgage team at Janover Capital LLC. Say whether you are assuming, refinancing or adding a supplemental loan, and we will give you a preliminary read on what a HUD lender is likely to need. Any terms come from the lender.
Janover Capital LLC is not HUD, FHA or the lender on this loan, and is not affiliated with or endorsed by either. The loan figures on this page come from HUD's public file and are not an offer of credit.
Other HUD-insured loans in Des Moines
- Stone Crest Apartments 108 units · 2.25% · matures 2056
- Elsie Mason Manor 150 units · 2.36% · matures 2053
- Southridge Village Apts 197 units · 2.38% · matures 2047
- Vintage Park Cooperative of Beaverdale 54 units · 2.49% · matures 2061
- Ligutti Tower 139 units · 2.59% · matures 2061
- Nexus at Gray's Landing Apartments 142 units · 2.94% · matures 2058
- The Residences at 4000 Ingersoll 25 units · 3.08% · matures 2057
- Southern Horizon 132 units · 3.23% · matures 2054
Source: HUD, Insured Multifamily Mortgages, active file, current as of September 30, 2026. Street address from HUD's Insured Multifamily Properties map layer. Rates and balances are as HUD reports them; if HUD's file is wrong, this page is too. How we use the data.