FHA-insured · 241(a) supplemental loan
Allure at Jefferson 241(a) Addition
4602 Monroe Way, Fredericksburg, VA 22408 · 450 units
Allure at Jefferson 241(a) Addition carries a $25.7 million FHA-insured mortgage at a 7.25% note rate, endorsed by HUD on December 13, 2023 and maturing in April 2060. HUD's file put the amortized balance at $25,471,691 as of September 30, 2026, with 33 years 7 months left on the term.
1% repaid
Insured during construction: initial endorsement December 2023, final endorsement February 2026 once the work was done. HUD's file does not show whether rent or income restrictions apply.
Would a 223(a)(7) refinance lower the payment?
This loan's 7.25% 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 $139,000 a month instead of about $169,000: roughly $353,000 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 Fredericksburg
- Silver Collection at Carl D Silver Parkway 369 units · 2.7% · matures 2056
- Aura Towne Center 271 units · 2.71% · matures 2064
- Madonna House at Belmont 130 units · 2.98% · matures 2051
- Aspire at the Hill 147 units · 3.15% · matures 2064
- Heritage Park Apts II 102 units · 3.25% · matures 2048
- Heritage Park Apts Phase One 100 units · 3.25% · matures 2048
- Mckendree Manor 23 units · 3.3% · matures 2053
- Palmers Creek Apartments 200 units · 3.45% · matures 2061
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.