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Mortgages Insurance for Single Room Occupancy (SRO) Projects

Published on AidPage by IDILOGIC on Jun 24, 2005

Purpose of this program:

The Single Room Occupancy (SRO) Program provides mortgage insurance for multifamily properties consisting of single-room units. There are no Federal rent subsidies involved with this SRO Program. It is aimed at those tenants who have a source of income but are priced out of the rental apartment market. SRO projects will generally require assistance from local governing bodies or charitable organizations in order to reduce the rents to affordable levels.