FHA-insured · 542(c) HFA risk-sharing
Ivanhoe Gardens Apartment
2012 E 38th St, Kansas City, MO 64109 · 80 units
Ivanhoe Gardens Apartment carries a $4.1 million FHA-insured mortgage at a 6% note rate, endorsed by HUD on October 25, 2005 and maturing in February 2037. HUD's file put the amortized balance at $2,286,261 as of September 30, 2026, with 10 years 5 months left on the term. The loan is paired with low-income housing tax credits.
44% repaid
Insured during construction: initial endorsement October 2005, final endorsement June 2007 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 $24,000 a month instead of about $25,000: roughly $6,000 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 Kansas City
- Opportunities Pavilion 81 units · 2.12% · matures 2054
- Crooked Creek II 112 units · 2.2% · matures 2047
- Argyle Apartments 117 units · 2.25% · matures 2061
- Blue Rock Apartment & Eagle Rock Apartments 82 units · 2.28% · matures 2056
- Bennington Ridge Apartments 288 units · 2.29% · matures 2055
- Bennington Park Townhomes 164 units · 2.32% · matures 2055
- Parker Square Apartments 204 units · 2.33% · matures 2057
- Vine Street Lofts 62 units · 2.34% · 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.