FHA-insured · 542(c) HFA risk-sharing
Herndon Harbor House II
871 Grace St, Herndon, VA 20170 · 60 units
Herndon Harbor House II carries a $3.5 million FHA-insured mortgage at a 6% note rate, endorsed by HUD on May 27, 1999 and maturing in March 2029. HUD's file put the amortized balance at $346,859 as of September 30, 2026, with 2 years 6 months left on the term.
90% repaid
Insured during construction: initial endorsement May 1999, final endorsement January 2002 once the work was done. HUD's file does not show whether rent or income restrictions apply.
Would a refinance lower the payment?
This loan's 6% 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 $12,000 a month instead of about $12,000: roughly $1,000 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 Herndon
- Van Metre Woodland Park Apts Phase II B 111 units · 2.33% · matures 2056
- Van Metre Dulles Glen Apartments 180 units · 2.45% · matures 2043
- Coppermine Run 288 units · 2.5% · matures 2057
- Trevors Run Apartments 170 units · 3.07% · matures 2055
- Herndon Harbor House Ltd 60 units · 6.35% · matures 2027
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.