What is a Multifamily Rental (Multi-Dwelling Unit or MDU)?
Multiple yet separate housing units in a single building or several buildings. An apartment building is one example, while other common examples include duplexes, triplexes, quadplexes, and mixed-use properties. In general, HUD 223(f) loans are only available for multifamily properties with 5+ uni
What is an MIP (Mortgage Insurance Premium)?
An MIP , or Mortgage Insurance Premium, is an annual payment on a HUD mortgage, paid at closing, for each year of construction, and annually.