Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Supplemental Loans for Multifamily Projects (Section 241)

Administering Agency/Entity Department of Housing and Urban Development
Short Description Provides federal mortgage loan insurance to finance improvements or additions to multifamily rental housing and healthcare facilities that already carry HUD-insured or HUD-held mortgages.
Primary Purpose Assistance for financing rental housing
Type of Housing Supported Rental Housing
Type of Assistance Insured loan
Fiscal Year 2010 Obligations Expected credit subsidy costs are less than $500,000 for loan commitments made in fiscal year 2010. These estimates are revised in subsequent years and the ultimate cost will not be known until the loans have matured, which in some cases may be 30 years. This loan program is part of the General Insurance and Special Risk Insurance Fund, which houses a wide range of mortgage insurance products, including insurance for loans to develop, rehabilitate, and refinance multifamily rental housing, nursing home facilities, and hospitals.

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