FHA-insured · 223(a)(7) refinance
Lakeside Apartments
702 Lakeside Ave, Burlington, NC 27217 · 40 units
Lakeside Apartments carries a $391,700 FHA-insured mortgage at a 7% note rate, endorsed by HUD on September 26, 2007 and maturing in October 2037. HUD's file put the amortized balance at $240,633 as of September 30, 2026, with 11 years 1 month left on the term.
39% repaid
Would a 223(a)(7) refinance lower the payment?
This loan's 7% 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 $2,000 a month instead of about $3,000: roughly $2,000 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 Burlington
- Burlington Homes 100 units · 2.4% · matures 2060
- Beaumont Avenue Apartments 100 units · 2.55% · matures 2062
- Tucker Street Apartments 100 units · 2.55% · matures 2062
- Spencer Brown Thomas Homes 40 units · 2.7% · matures 2056
- Buckhill Village Apartments 120 units · 3.64% · matures 2061
- Woodridge Apts 100 units · 5.25% · matures 2039
- Bdc Communities 368 units · 6.21% · matures 2066
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.