The Federal Housing Administration (FHA) provides mortgage insurance to HUD-approved lenders to facilitate the construction, substantial rehabilitation, acquisition, or refinancing of multifamily housing projects and healthcare facilities. All FHA programs are long-term, fixed-rate, fully amortizing loans offering low-cost financing and higher proceeds that are non-recourse. We have one of the largest FHA servicing portfolios, which include substantial construction servicing in addition to loans for Low Income Housing Tax Credit projects. With this experience and expertise, our borrowers feel at ease knowing they are receiving the best financing solution.

Features

• Low cost financing: Borrowers benefit from low interest rates and high-leverage debt, saving the borrower money and providing hard-to-obtain capital through the issuance of tax-exempt bonds and GNMA Mortgage-Backed Securities.
• Fully non-recourse
• Supplemental Loans: Ability to obtain additional loan proceeds on a property with pre-existing FHA or HUD mortgages for repairs, additions and improvements, including major moveable equipment for certain healthcare facilities.
• Long-term financing: Up to 40 years, fully-amortizing loan terms, providing lower and more manageable loan payments.

Experience and Expertise

• Smooth execution
• Our veteran originators and underwriters have over 30 years of experience working with HUD and the FHA.

Products

• Multifamily programs:
  –– Section 223(f): Provides loans for the refinance or acquisition of existing multifamily properties
  –– Section 221(d): Offers financing for the new construction or substantial rehabilitation of multifamily apartment properties
  –– Section 223(a)(7): Provides refinancing for current FHA-insured loans on existing properties
  –– Section 241(a): Offers supplemental loans for multifamily projects
• Speciality financing:
  –– Section 231: Financing for the new construction or substantial rehabilitation of multifamily properties to seniors and/or those with disabilities
  –– Section 232/223(f): Provides loans for the refinance or acquisition of healthcare facilities
  –– Section 232: Financing for the new construction or substantial rehabilitation of healthcare facilities, including nursing homes, assisted living facilities and board and care homes
  –– LEAN Program: Accelerated Section 232 program with only a 2-week HUD review time
  –– Section 207(m): Financing for the new construction or substantial rehabilitation of manufactured home parks
  –– Section 242: Provides hospital financing.

Section 223
Senior Housing