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below-market interest rate
(redirected from BMIR)

   Also found in: Acronyms 0.01 sec.
below-market interest rate (BMIR)

Government-subsidized interest rate concessions offered to spur development,usually in a particular market segment,such as low-income housing,or in particular market areas,such as parts of the country heavily damaged by natural disasters.In the housing industry, the borrower is generally required to pass along the savings to consumers in the form of lower rents.



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Private owners of nonprofit facilities are eligible as long as they fulfill requirements of Section 202; Section 8 project-based, including Rural Housing Services' Section 515; Section 221(d)(3) BMIR, and Section 236 housing developments designated primarily for occupancy by the elderly for at least five years.
 
 
 
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