FHA-insured · 542(c) HFA risk-sharing
Shillman House
49 Edmands Rd, Framingham, MA 01701 · 150 units
Shillman House carries a $12.8 million FHA-insured mortgage at a 6.5% note rate, endorsed by HUD on January 13, 2010 and maturing in November 2051. HUD's file put the amortized balance at $11,093,218 as of September 30, 2026, with 25 years 2 months left on the term. The loan is financed with tax-exempt bonds and paired with low-income housing tax credits.
13% repaid
Insured during construction: initial endorsement January 2010, final endorsement July 2012 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 6.5% 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 $68,000 a month instead of about $75,000: roughly $78,000 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 Framingham
- Sherwood Park Apartments 81 units · 2.45% · matures 2056
- Beaver Terrace Apartments 254 units · 2.8% · matures 2056
- Claflin House 40 units · 3.45% · matures 2053
- Pelham Beaver Apartments 286 units · 3.9% · matures 2050
- Framingham Green 111 units · 4.85% · matures 2051
- Irving Street Apartments 11 units · 5.28% · matures 2061
- Saxonville Village 64 units · 5.38% · matures 2060
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.