Loan program
HUD 221(d)(4) and 223(f) multifamily loans
FHA-insured multifamily programs for new construction or substantial rehab (221(d)(4)) and acquisition or refinance of existing properties (223(f)).
HUD's multifamily insurance programs, administered through FHA and originated by HUD-approved lenders, offer long-term, fixed-rate, non-recourse financing for qualifying apartment properties.
221(d)(4)
For new construction or substantial rehabilitation of multifamily rental housing. Combines construction and permanent financing in one loan with a long amortization after construction. Underwriting includes Davis-Bacon wage requirements, environmental review and a lengthy approval process.
223(f)
For acquisition or refinance of existing, stabilized multifamily properties, including properties needing limited repairs. Long fully amortizing terms; properties generally must meet occupancy and age requirements.
Considerations
- Processing times are longer than conventional or agency loans
- Mortgage insurance premiums and third-party reports add cost
- Ongoing HUD regulatory agreement and reporting requirements
Get financing from GlobusAll programs
Educational information only. Not legal, tax, municipal-advisory, investment or lending advice, and not an offer or commitment to lend or to issue bonds. District rules, thresholds and timelines vary by state and municipality; consult bond counsel and qualified advisors. Calculator outputs are illustrative estimates, not quotes or approvals.
Globus Capital Advisors
Considering HUD 221(d)(4) and 223(f) multifamily loans?
Globus Capital Advisors, a commercial loan broker, works with bank, agency, CMBS, debt-fund, SBA and bond-market lenders and can tell you whether this structure fits your deal.