FHA HUD 223(f)
FHA HUD 223(f) Apartment Loans are available for the acquisition and refinancing of 5+ unit multifamily properties. There is no income or rent restrictions under Section 223(f) unless otherwise required by a project based HAP contract or other regulatory agreement. This is loan is fixed for 35 years, or 75% of the remaining economic useful life (subject to PCNA report). Financing up to 83.3% LTV for market rate, 85% LTV for Affordable, and up to 90% or greater rental assistance. The loan is fully assumable subject to FHA approval. Furthermore, HUD insured mortgages are non-recourse, therefore no tax returns, or minimum liquidity is needed to qualify.
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