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Conventional: Apartment, Commercial, Owner Occupied

Classic Apartment Building Loans

Easy Doc Apartment Loans

DSC Crusher - CA Apartment Loans

Commercial Building Loans

Owner Occupied Commercial Loans

Small Balance - Stated Income Commercial Building Loans

FANNIE MAE

DUS Adjustable Rate Apartment Mortgage

DUS Discounted Mortgage Backed Security (DMBS)

Aparment Loan Forward Commitment - Conventional

Apartment Loan Forward Commitment -Affordable

Negotiated Transactions

Fixed or Variable Bond Credit Enhancement

Low-Income Housing Tax Credits (LIHTC)
FHA INSURED LOAN PROGRAM

Apartments: New Construction / Substantial Rehab
Section 220, 221(d)(4), and 221(d)(3)

Apartments: Acquisition or Refinance
Section 223(f)

Healthcare: Acquisition or Refinance
Section 232
Pursuant to 223(f)

Healthcare:New Construction / Substantial Rehab
Section 232

Healthcare:Alterations, Repairs or Improvements
Section 241

Streamline Refinance
Section 223(a)(7)

 
OTHER

Single Tenant Commercial Properties and
Owner User Commercial Properties

Apartment and Commercial Bridge Loans
Fannie Mae - Apartment Building Loan - Apartment Building Mortgage - Commercial Mortgage

Home > Income Property Loans > FHA Mortgage Insurance Apartments-Acquisition or Refinance

FHA Mortgage Insurance
Apartments - Acquisition or Refinance
Section 223(f)

Acquisition or refinance of constructed or substantially rehabilitated multifamily or seniors (no services) properties that are a minimum of 3 years old.

Features

  • One-step processing under HUD’s Multifamily Accelerated Processing (MAP).
  • Non-critical repairs and capital improvements may be included in the loan.
  • Mortgagor has up to 12 months from loan closing to complete repairs and improvements.
  • Davis-Bacon wages not required on repair work.
  • May also serve as credit enhancement for tax-exempt bond deals.
Structure
Loan Amount

Lesser of: (i) 85% LTV; (ii) 85% of acquisition plus transaction costs; or (iii) Statutory unit limitations.
Refinance Lesser of:(i) 85%LTV; 80% LTV if Cash Out; (ii) 100% of current debt plus transaction costs, if LTV exceeds 80%; or (iii) Statutory unit limitations.
Debt Service Coverage 1.1765x.
Loan Terms
 35 years (not to exceed 75% of est. economic life).
Amortization

Fully amortizing, 35 years for most properties.

Recourse

nonrecourse
Rates Ginnie Mae MBS and whole loan rates, priced daily.

 

Optional Features
Subordinate Financing Soft second allowed up to 7.5% of value; maybe higher for nonprofit Borrower, depending on debt source.
Assumability

Fully assumable with HUD’s and Lender’s consent.

Prepayment

Any prepayment lock out or penalty periods negotiable with Investor

 

Requirements
  • Initial deposit to the Replacement Reserve can be included in the mortgage; monthly deposits required.
  • Single-asset Borrower entity.
  • Properties must remain rental for 5 years post closing and prepayment is prohibited for 5 years from the date of loan closing.

 

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