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Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1] Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units).
The CLASS Act was repealed January 1, 2013. [5] Under the Act the Department of Health and Human Services was to set the terms prior to implementation, but determined the program was not viable and could not go into effect. [4] [6] [7] The CLASS Act had been "a key priority" of the late Senator Edward "Ted" Kennedy. [8] [9]
Portfolio loans are originated by a lender and held on its balance sheet through maturity. In a CMBS transaction, many single mortgage loans of varying size, property type and location are pooled and transferred to a trust. The trust issues a series of bonds that may vary in yield, duration and payment priority.
A real estate mortgage investment conduit (REMIC) is "an entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors" under U.S. Federal income tax law and is "treated like a partnership for Federal income tax purposes with its income passed through to its interest holders".
A Section 184 loan requires just 2.25 percent down. The NADL program has no down payment requirement, but is only for Native American veterans and their spouses. First-time homebuyer programs by state
Workforce housing can refer to any form of housing, including ownership of single or multi-family homes, as well as occupation of rental units. Workforce housing is generally understood to mean affordable housing for households with earned income that is insufficient to secure quality housing in reasonable proximity to the workplace.
CalHFA provides housing assistance in two main areas: below-market interest rate mortgages and down payment assistance for low and moderate income, first-time homebuyers, many of whom are ethnic minorities not well-served by market rate products and loans for the development and preservation of affordable multifamily rental housing.
Office/residential – multi-family residential units within office building(s) Shopping mall conversion – residential and/or office units added (adjacent) to an existing standalone shopping mall; Retail district retrofit – retrofitting of a suburban retail area to a more village-like appearance and mix of uses