FHA

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

Property Types:

• 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

Loan Purpose:

• 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

Loan Programs:

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

 

Source - usmortgagecalculator.org Mortgage Calculator