Both the HUD 223(f) for the refinancing of existing multifamily properties and the HUD 232/223(f) program for the purchase of healthcare facilities are programs that have the best features of any product in the marketplace.
- Low fixed rate terms up to 35 years.
- Highest loan-to-value (LTV)% available in the marketplace.
- Lowest fixed interest rate available in the marketplace.
- Long-term fixed rate with no balloon payment, which mitigates interest rate risk.
- Highest loan-to-value (LTV) available in the marketplace (high leverage).
- No financial capacity requirements.
- Length of time for HUD approval (4 to 6 months).
- Annual CPA audited operating statements.
- Mortgage Insurance Premium (MIP) required.
- Higher transaction costs and detailed third-party reports required.
- Required property inspections.
For quicker executions and short-term property holders, Fannie Mae and Freddie Mac programs may fit better to meet your financial objectives.
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