FHA-insured · 221(d)(4) new construction or substantial rehab
Baptist Oaks Apartments
800 Conti St, Mobile, AL 36602 · 53 units
Baptist Oaks Apartments carries a $2.6 million FHA-insured mortgage at a 6.06% note rate, endorsed by HUD on March 12, 2008 and maturing in May 2039. HUD's file put the amortized balance at $1,642,825 as of September 30, 2026, with 12 years 8 months left on the term. The loan is paired with low-income housing tax credits.
36% repaid
Insured during construction: initial endorsement March 2008, final endorsement November 2009 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 6.06% 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 $15,000 a month instead of about $16,000: roughly $5,000 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.
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- Autumn Chase 120 units · 2.25% · matures 2053
- Oak Ridge Apartments 124 units · 2.54% · matures 2055
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- Staples-Pake Apartments 20 units · 2.75% · matures 2056
- Dauphin Gate 223 units · 2.88% · matures 2058
- Ahepa 310 Apartments 96 units · 2.9% · matures 2048
- Arbours at Pierce Creek Apartments 70 units · 3.49% · matures 2056
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.