FHA financing provides long-term, fully amortizing, fixed rate, non-recourse loans. Upon FHA’s issuance of a firm commitment to insure a project loan, the lender funds the loan through the issuance of GNMA Mortgage Backed Securities (“MBS”).
Our lending relations are both MAP and LEAN approved.
MAP – Multifamily Accelerated Processing is a national fast-track processing system for the FHA multifamily mortgage insurance programs.
LEAN – Expedited processing for healthcare
• Market Rate Family Apartments
• Affordable Housing Apartments
• Senior Independent Apartments
• Urban Renewal Area Apartments
• Assisted Living / Board & Care Homes
• Skilled Nursing / Intermediate Care Facilities
• Hospitals / Acute Care Facilities
• New Construction / Substantial Rehabilitation
• Permanent Financing / Acquisition, Refinancing
• Credit Enhancement / Taxable & Tax Exempt Bonds
• Refinancing Existing FHA-Insured Loans
• Supplemental Loans for Existing FHA-Insured Properties
• FHA 220– New Construction or Substantial Rehabilitation of Rental Housing in Economic Development Areas
• FHA 221(d)(3)&(4)– New Construction or Substantial Rehabilitation (d)(3) non-profit, (d)(4) for profit
• FHA 223(a)(7)– Refinance of Existing FHA insured Loans
• FHA 223(f)– Acquisition, Refinance, and Moderate Rehab of apartments at least 3 years old from C.O.
• FHA 232– New construction or Rehab of Healthcare Facilities: Skilled Nursing, Assisted Living, Board & Care, Special Use
• FHA 232/223(f)– Acquisition or Refinancing of Healthcare Facilities: SNF, AL, Board & Care, Special Use
• FHA 241(a)– Repairs, Additions, Improvements of MF and Health Care for existing HUD-insured Mortgages (all programs).
• FHA 242– New construction, Rehab, Acquisition with 20% new construction component (of which 50% can be equipment) of Hospitals & Medical Office Building