FHA-insured · 221(d)(4) new construction or substantial rehab
Culebra Road Apartments
5606 Culebra Rd, San Antonio, TX 78253 · 199 units
Culebra Road Apartments carries a $16.9 million FHA-insured mortgage at a 5.98% note rate, endorsed by HUD on August 23, 2023 and maturing in October 2065. HUD's file put the amortized balance at $16,778,914 as of September 30, 2026, with 39 years 1 month left on the term. The loan is financed with tax-exempt bonds and paired with low-income housing tax credits.
1% repaid
Insured during construction: initial endorsement August 2023, final endorsement September 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 5.98% 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 $88,000 a month instead of about $93,000: roughly $61,000 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 San Antonio
- Canyon Pass Apartments 264 units · 2% · matures 2063
- Crosswinds Apartment Homes 312 units · 2.02% · matures 2064
- Artisan on the Bluff 250 units · 2.09% · matures 2055
- Rancho Sierra Apartments 280 units · 2.15% · matures 2055
- Boardwalk on Research 295 units · 2.18% · matures 2055
- Artisan at Willow Springs 248 units · 2.19% · matures 2056
- Arroyo Seco Villas 200 units · 2.2% · matures 2056
- The Falls at Westover Hills 394 units · 2.25% · 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.