FHA-insured · 542(c) HFA risk-sharing
Central Building
332 Main St, Worcester, MA 01608 · 55 units
Central Building carries a $3.7 million FHA-insured mortgage at a 5.83% note rate, endorsed by HUD on February 19, 2020 and maturing in March 2060. HUD's file put the amortized balance at $3,532,202 as of September 30, 2026, with 33 years 6 months left on the term.
5% repaid
Would a refinance lower the payment?
This loan's 5.83% 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 $19,000 a month instead of about $20,000: roughly $8,000 a year less, before mortgage insurance, closing costs and any prepayment premium in the note.
This is a risk-sharing loan, which HUD does not allow to use a 223(a)(7). The usual route is a new 223(f) loan, sized on the property's current income.
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 Worcester
- Lincoln Village Apartments 1213 units · 2.45% · matures 2056
- Green Hill Towers Apartments 185 units · 2.48% · matures 2055
- Colony Retirement Homes III 100 units · 2.87% · matures 2057
- Colony Retirement Home IV 70 units · 3.05% · matures 2051
- James J Millet Teamster Villag 24 units · 3.06% · matures 2043
- Emanuel Village Apartments 75 units · 3.09% · matures 2054
- Mountain Village 200 units · 3.35% · matures 2048
- Voke Lofts 84 units · 3.4% · matures 2055
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.