FHA-insured · 223(a)(7) refinance
Greenwood Apartments
1460 S 16th St, Richmond, IN 47374 · 100 units
Greenwood Apartments carries a $1.3 million FHA-insured mortgage at a 6.5% note rate, endorsed by HUD on March 31, 2006 and maturing in April 2036. HUD's file put the amortized balance at $692,751 as of September 30, 2026, with 9 years 7 months left on the term.
46% repaid
Would a 223(a)(7) refinance lower the payment?
This loan's 6.5% 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 $8,000 a month instead of about $8,000: roughly $4,000 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 Richmond
- Cedar Cliff Apartments 42 units · 2.56% · matures 2042
- East Ridge Apartments 40 units · 2.56% · matures 2047
- Carriage Hse of Richmond 106 units · 3.05% · matures 2042
- Cambridge Square of Richmond 150 units · 3.19% · matures 2031
- Bethlehem Community 25 units · 4.6% · matures 2046
- Interfaith Housing B 101 units · 5.61% · matures 2061
- Rosewood Terrace 57 units · 6.5% · matures 2043
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.