FHA is a federally guaranteed program under the government’s Department of Housing and Urban Development (HUD).
How are FHA Loans Used?
FHA Loans can be used for the purchase/refinance as well as the construction/ substantial rehabilitation of multifamily or healthcare properties. Loans are non-recourse (except standard carve-outs) and rates are very competitive with 35-40 year fixed terms and amortizations.
FHA Loan Eligibility
FHA are available nationwide and are available for any market (primary, secondary, tertiary). Because of the longer diligence/underwriting period and closing time of FHA mortgages, we can arrange for a well-priced, short-term bridge loan with minimal fees until closing if necessary.
FHA Apartment Loan Programs
There are 2 major FHA programs under which the rest of the products fall:
This program is used for the purchase, refinance, construction, or rehabilitation of manufactured housing communities or senior cooperatives.
This program provides affordable financing and refinancing of healthcare facility projects.
Interested in learning more about the FHA Apartment Loan Program? Call us today at (732) 228-8088