multifamily
Market Rate
Refinance/Moderate Rehab
FHA’s fixed rate long-term permanent financing for the purchase or refinance of market rate apartments is also a great way to fund needed repairs and improvements up to $6,500 per unit. Normally, plans and specifications are not required so long as the work is described in sufficient detail. If you are looking to do some work on an apartment project, an FHA loan can provide the funds and net you a lower interest rate. Call us for a proposal, you might be surprised with what you get.
Sub Rehab
FHA offers the best apartment substantial rehabilitation loan program available today. The loan covers existing debt or acquisition cost plus construction hard and soft costs and then converts to a 40-year fixed rate fully-amortizing loan once construction is complete. FHA offers the highest loan to total development cost ratio available today. The fixed interest rate, covering both the construction period and permanent loan term, is surprisingly low. Traditional bugaboos regarding FHA new construction programs – long processing times, restrictive loan limits and excessive documentation – have been addressed. Click here for a downloadable term sheet or call a Rockhall new construction expert to discuss.
New Construction
FHA offers the best apartment new construction loan program available in the market. The loan covers construction hard and soft costs and then converts to a 40-year fixed rate fully-amortizing loan once construction is complete. FHA offers the highest loan to total development cost available today. The fixed interest rate, covering both the construction period and permanent loan term, is surprisingly low. There are special programs for elderly apartments and urban developments. Traditional bugaboos regarding FHA new construction programs – long processing times, restrictive loan limits and excessive documentation – have been addressed. Click here for a downloadable term sheet or call a Rockhall new construction expert to discuss.
Acquisition
FHA provides fixed rate long-term 83.3% loan to cost permanent financing for the acquisition of market rate multifamily housing projects. Projects with FHA financing in place can be very quickly refinanced by new buyers if no additional debt is sought. HUD won’t even require an appraisal. It is no longer necessary to choose between a great loan and a quick closing. For buyers of projects that aren’t currently FHA financed, Rockhall offers an acquisition bridge loan program that ensures a quick closing on the purchase. The bridge loan will be taken out by a low interest rate FHA permanent loan. If you are looking to buy a multifamily rental property, call us for a financing proposal, you might be surprised with what you get. Click here for a detailed term sheet.
Streamlined Acquisition: Existing FHA-Insured Loans Only
If you are looking to buy a multifamily rental property that currently is FHA insured, call us for a financing proposal, you might be surprised with what you get. Click here for a detailed term sheet.
