We offer FHA mortgage programs with non-recourse financing for market-rate and affordable apartments and cooperatives, assisted living facilities, skilled nursing facilities and seniors housing.
By working with an expert FHA multifamily lending provider, you'll gain access to an array of FHA multifamily loan programs for acquisition, refinancing existing debt, rehabilitation (lite and significant) or new construction.
FHA property and asset types, range from garden apartments, mid-rise to high-rise towers.
The Independent and Congregate Living products are typically underwritten as Multifamily Apartments, with financing provided by FHA-insured loans or Life Companies. The Independent product encompasses both market rate and subsidized properties, with subsidies often provided under the Low Income Housing Tax Credit (LIHTC) program. Congregate care provides a higher level of services, but is not licensed by the State and operates more like an apartment property.
Purchase & Refinance Loans
Loans available for 5 or more units in a residential building on favorable terms and amortization periods up to 35 years.
FHA Section 221(d)(4) Mortgage Insurance for Multifamily Projects Rehabilitation and New Commercial Construction Financing
The 221(d)(4) Program (or 221 (d)(3) for non-profits) features: high leverage, long-term, fixed rate, non-recourse, assumable, first lien mortgage debt for new construction or significant rehabilitation of multifamily properties. This loan program is insured by the FHA and offers access to affordable financing for capital improvements throughout the U.S.
Includes an interest only construction period
– rate locked prior to closing
No post construction loan to value test
No lease up requirements prior to
commencement of amortization
Financing may be combined with governmental loans or grants.