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Investors, Do You Know Your Multifamily Loan Options?

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The Department of Housing and Development (HUD)-insured multifamily loans often get a bad rap. Folks associate them with loans that take a long time to close, have a lot of red tape and are only for affordable properties. Some of this is misguided. The red tape and timeline are undoubtedly a bit more arduous than agency debt; however, a HUD 223(f) loan, with the right lender, may only take another 30-60 days to close than an agency loan.

Although Federal Housing Administration (FHA) debt may not be perfect for purchase execution, it is often the best for recapitalizations. FHA-insured permanent financing is generally non-recourse, up to 85% LTV, fixed and fully amortizing for up to 35 years (subject to the remaining economic life of the property), and priced better than Fannie, Freddie and CMBS, because of the lower risk rating of debt guaranteed by the U.S. government.

Source: Investors, Do You Know Your Multifamily Loan Options?

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Rodwell Smith

Rodwell Smith and RodwellBuildingServices, Inc., has over 35 years of progressively responsible experience developing and modernizing real estates for individuals, corporate and government entities. Rodwell has sold and procured over $270M real property improvements; managing the projects from selection, inception, through design, through construction; quality assurance, surveying quantity, turnaround delays and augmenting progression to completion. RodwellBuildingServices™ benefits keen real property sellers, buyers and users in Washington, DC and up to 50 miles around Maryland and Northern Virginia with the real services and the right property for their order!

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