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FHA-insured · 542(c) HFA risk-sharing

Mumford Manor

39 Farewell St, Newport, RI 02840 · 34 units

Mumford Manor carries a $1.5 million FHA-insured mortgage at a 6.6% note rate, endorsed by HUD on June 4, 2008 and maturing in July 2043. HUD's file put the amortized balance at $1,116,144 as of September 30, 2026, with 16 years 10 months left on the term. The loan is paired with low-income housing tax credits.

Note rate
6.6%
Balance, September 2026
$1,116,144
Monthly principal and interest
$9,166
Matures
July 2043
Original amount
$1,500,000
Original amount per unit
$44,118
Term
420 months (35 years)
First payment
August 1, 2008
Initial endorsement
June 4, 2008
HUD program (as filed)
542(C) HFA RISK SHARING-RECENT COMP (YHN)
FHA project number
01698082
Mortgage holder
Rhode Island Hsg Mtge Fin Corp
Servicer
Rhode Island Hsg Mtge Fin Corp

Would a refinance lower the payment?

This loan's 6.6% 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 $9,000 a month instead of about $9,000: roughly $8,000 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.

The deal
You

Goes to the commercial mortgage desk at Janover Capital LLC, not to HUD. Prefer email? hello@hudmultifamily.loan

Other HUD-insured loans in Newport

All 10 in Newport

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HUD posts this file once a month. Leave your email and we'll write when FHA 01698082 leaves it (paid off, refinanced or terminated) and with the new figures when HUD changes its balance or maturity date.

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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.