Sponsor: Housing Assistance Corporation (HAC)
Loan Approved: December 4, 2003
MHP provided over $1.5 million in financing to help the Housing Assistance Corporation (HAC) construct 14 new units of affordable housing.
TYPE: New construction
WHERE: 1013 Falmouth Road, Hyannis.
WHAT: The new construction of 14 affordable apartments.
AFFORDABILITY: All affordable at 80 percent AMI; 3 units affordable at 30 percent AMI.
MHP FINANCING: A $597,500 first mortgage, a $743,005 deferred-payment second mortgage and a $225,000 HomeFunders second mortgage.
RENTAL INFORMATION: Preservation of Affordable Housing (POAH), 877-489-0101.