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Covent Apartments

FHA New Construction & Substantial Rehab

Endorsed September 23, 2022

FHA #07132160

Deal Details

Location: CHICAGO, Illinois
Mortgage Amount: $4.9M
Units: 30
Program: New Construction & Substantial Rehab
Lender: Merchants Capital Corp.
Fiscal Year: FY2022
LIHTC: Yes
Tax-Exempt: Yes

Current Loan Status

Active

Outstanding Balance: $4.8M($4.9M original)
Interest Rate: 3.85%
Maturity: January 2064(38 years remaining)
Original Term: 40 years
Holder: Merchants Capital Corp.
Servicer: Merchants Capital Corp.

Source: HUD BF90 Active Insured Mortgages · Data as of February 2026

Data Sources

Endorsement data: HUD FHA Multifamily Firm Commitments and Endorsements Database

Active loan data: HUD BF90 Active Insured Mortgages, as of February 2026

hud.gov multifamily data

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