3.6.6 Insurance of Advances or Insurance upon Completion
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
A. For Section 241(a) mortgage insurance for Supplemental loans, either the insurance of advances or the Insurance upon competition approach is acceptable. Construction advances for any Supplemental Loan may be insured; the minimum amount of advance that may be insured is $200,000. Mortgageable contingency and construction draw retainage are subject to the same requirements as other New Construction / Substantial Rehabilitation programs.
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Chapter 3 Programs 3.6 Section 241(a) Mortgage Insurance for Supplemental Loans
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