Mortgage Insurance Rental Housing in Urban Renewal Areas
Active
- Assistance listing
- 14.139
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- Multifamily Rental Projects in Designated Areas - Section 220
- Treasury account
-
- 86-4077-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development's Federal Housing Commissioner administers mortgage insurance for rental housing in urban renewal areas (CFDA 14.139), a program that insures mortgages on new or rehabilitated multifamily properties located in designated revitalization zones.
The program funds construction and rehabilitation of rental housing structures with two or more units in urban renewal areas, urban development projects, code enforcement program areas, areas receiving rehabilitation assistance following natural disaster, or areas with coordinated housing, physical development, or public service activities. FHA provides mortgage insurance commitments through local Multifamily Hubs or Satellite Offices after feasibility review, which assess market need, zoning compliance, architectural merit, sponsor capability, and community resource availability. Mortgagees must service loans and maintain records according to prudent lending standards and HUD regulations; HUD reserves audit rights over both mortgagee and mortgagor accounts.
The source does not report recent grant award activity, award counts, funding volumes, assistance-type distribution, or recent grant opportunities. The program description reflects the underlying insurance and commitment structure rather than a grants portfolio with disbursement dates or typical award magnitudes. This is a mortgage insurance program administered by HUD's Multifamily Housing division, not a discretionary project-grant program with competitive solicitation cycles. Applicants—typically lenders and property sponsors—submit mortgage insurance applications to the local Multifamily Hub or Satellite Office; denial decisions include written justification and appeal rights under the MAP (Multifamily Accelerated Processing) Guide. Processing timelines are set by project type and exclude time spent on lender responses to HUD requests.
The mortgage insurance commitment mechanism, local hub review, and service requirements suggest ongoing activity, but the source provides no timeline data, recent awards, or posted opportunities to assess current funding velocity or pursuit readiness.
Objective and description
- Objective
To provide quality rental housing in urban renewal areas, code enforcement areas, and other areas designated for overall revitalization.
- Description
FHA insures mortgages on new or rehabilitated housing structures located in designated urban renewal areas and areas with concentrated programs of code enforcement and neighborhood development. Insured mortgages may be used to finance construction or rehabilitation of rental housing. Properties must consist of two or more units and be in one of the following: an urban renewal area, urban development project, code enforcement program area, urban area receiving rehabilitation assistance because of natural disaster, or an area where concentrated housing, physical development, or public service activities are being carried out in a coordinated manner.
Eligibility
- Applicant eligibility
Eligible mortgagors include private profit motivated entities, public bodies, and others who meet HUD requirements for mortgagors.
- Beneficiary eligibility
All families eligible to occupy a dwelling in a structure whose mortgage is insured under the program, subject to normal tenant selection.
- Uses of assistance
Section 220 insures lenders against loss on mortgage defaults. Insured mortgages may be used to finance proposed construction or rehabilitation of detached, semi-detached, row, walk-up, or elevator type rental housing or to finance the purchase of properties which have been rehabilitated by a local public agency. Property must consist of two or more units and must be located in an urban renewal area, urban redevelopment project, or code enforcement program area, urban area receiving rehabilitation assistance as a result of natural disaster, or area where concentrated housing, physical development and public service activities are being carried out in a coordinated manner. The program has statutory mortgage limits which vary according to the size of the unit, the type of structure, and the location of the project. There are also loan-to-replacement cost and debt service limitations. Contractors for new construction and substantial rehabilitation projects must comply with prevailing wage standards under the Davis-Bacon Act.
- Use restrictions
FHA insures mortgages on new or rehabilitated housing structures located in designated urban renewal areas and areas with concentrated programs of code enforcement and neighborhood development. Insured mortgages may be used to finance construction or rehabilitation of rental housing. Properties must consist of two or more units and be in one of the following: an urban renewal area, urban development project, code enforcement program area, urban area receiving rehabilitation assistance because of natural disaster, or an area where concentrated housing, physical development, or public service activities are being carried out in a coordinated manner.
- Length and time phasing of assistance
The maximum mortgage term is 40 years, or not in excess of three-fourths of the remaining economic life, whichever is less.
How to apply
- Preapplication coordination
See the MAP Guide for document submission requirements.
- Award procedure
The local Multifamily Hub or Satellite Office reviews the application to determine whether the proposal is feasible. Considerations include market need, zoning, architectural merits, capabilities of sponsors, availability of community resources, etc. If the project meets program requirements, the Multifamily Hub or Satellite Office issues the lender a commitment to insure the project mortgage.
- Deadlines
See the MAP Guide for document submission requirements.
- Time to approval or disapproval
Processing time goals are set for the type of project financed. See the MAP Guide for processing time goals, which exclude time the lender spends responding to HUD document requests and clarifications.
- Renewals
The term of a commitment to insure may be extended under certain circumstances when more time is required to close the loan.
- Appeals
If an application for mortgage insurance is denied, HUD will state the reasons for the denial. Appeals may be made in accordance with the MAP Guide.
Quick answers
What is Assistance Listing 14.139?
Assistance Listing 14.139 is Mortgage Insurance Rental Housing in Urban Renewal Areas, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Mortgage Insurance Rental Housing in Urban Renewal Areas?
Its CFDA number is 14.139: Assistance Listing numbers were called CFDA numbers before 2018.
On GovTribe
See this program's full record
- Every grant award and opportunity under it
- Funding by recipient, agency and assistance type
- Alerts for new opportunities
- Ask GovTribe AI about this program