• Fully amortizing, fully assumable
• Integrated construction / permanent financing

• Non-recourse
• Credit enhancement for tax exempt financing

Guidelines

Construction/Permanent:
Min DCS 1.11 to 1.2
Max LT Cost / LTV 83.3% to 90%

Refinance:
Max LTV 80% to 90%Min DCS 1.11 to 1.2

Best Bets

Stabilized multifamily rental

Stabilized residential healthcare facilities

Properties for new construction or substantial rehabilitation

Not Likely

Unstabilized or vacant properties except properties eligible for substantial rehabilitation

Major Programs

FHA/HUD Section 221(d)(4)
Construction or Substantial Rehabilitation of Multifamily Properties

FHA/HUD Section 223(4)
Acquisition and Refinancing of Multifamily Properties

FHA/HUD Section 223(a)(7)
Refinancing of Properties with Existing HUD Insured Debt

FHA/HUD Section 232/223(f) Lean
Acquisition and Refinancing of Healthcare Properties