FHA-insured · 542(c) HFA risk-sharing
Old Colony Phase Four
110 Mercer St, Boston, MA 02127 · 104 units
Old Colony Phase Four carries a $27.5 million FHA-insured mortgage at a 5.991% note rate, endorsed by HUD on December 12, 2022 and maturing in February 2066. HUD's file put the amortized balance at $27,382,717 as of September 30, 2026, with 39 years 5 months left on the term. The loan is financed with tax-exempt bonds and paired with low-income housing tax credits.
0% repaid
Insured during construction: initial endorsement December 2022, final endorsement January 2026 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 5.991% 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 $143,000 a month instead of about $151,000: roughly $102,000 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 Boston
- Mercantile Wharf 125 units · 2.15% · matures 2056
- Piano Craft Guild Apartments 176 units · 2.25% · matures 2056
- Castle Square Apartments 500 units · 2.28% · matures 2055
- Nazing Court 151 units · 2.29% · matures 2056
- Quincy Heights 129 units · 2.29% · matures 2041
- 10 Thacher Street 81 units · 2.3% · matures 2056
- Governor Apartments 87 units · 2.34% · matures 2057
- Amiff Housing 96 units · 2.35% · matures 2057
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.