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HUD Multifamily Loans in Boulder & Today's Rates
Known for its picturesque landscapes and thriving economy, Boulder, Colorado, is a city that offers a unique blend of natural beauty and urban sophistication. One of the key factors contributing to the city's allure is the availability of HUD housing loans, which have made homeownership a reality for many residents. These loans, backed by the U.S. Department of Housing and Urban Development (HUD), provide affordable financing options for multifamily properties, making Boulder an attractive destination for both families and investors.
Local Housing Market Overview
The housing market in Boulder, Colorado, is characterized by its resilience and steady growth. Despite the economic challenges posed by the pandemic, the city's housing market has remained robust, with home values continuing to rise. According to data from HUD, the median home value in Boulder is significantly higher than the national average, reflecting the city's strong demand for housing.
Notably, Boulder has seen a surge in the development of multifamily properties, fueled in part by the availability of HUD housing loans. These loans have made it possible for developers to build affordable housing units, thereby addressing the city's growing need for cost-effective housing solutions. The city's commitment to affordable housing is further evidenced by its numerous housing projects, many of which have been made possible through HUD financing.
Economic Landscape and Demographic Trends
Boulder's economic landscape is as diverse as it is dynamic. The city is home to a thriving tech industry, a robust retail sector, and a burgeoning healthcare industry. According to the Bureau of Labor Statistics, these sectors are among the city's largest employers, providing a steady stream of jobs for residents. This economic diversity has helped Boulder maintain a low unemployment rate, contributing to its strong housing demand.
Demographically, Boulder is a city of contrasts. It is home to a large student population, thanks to the presence of the University of Colorado Boulder, one of the country's leading public research universities. At the same time, the city also boasts a significant number of retirees, drawn by Boulder's high quality of life and extensive healthcare facilities. These demographic trends have created a diverse housing market, with a mix of single-family homes, student housing, and senior living facilities. The availability of HUD housing loans has played a crucial role in meeting this diverse housing demand, making Boulder a model city for affordable housing.
Today's Interest Rates in Boulder
Find today's rates in the table below.
Please note that these are only benchmark index rates — each loan product will have a rate that varies depending on the property, the location, the borrower's financial strength and experience, and several other factors.
Our Experts
When it comes to getting a HUD loan for your multifamily property, there are several amazing options. The names of the loans themselves are not particularly descriptive, however — more alphabet soup than proper name — yet they have major differences in purpose, eligibility, and terms.
Our team connects you with lenders across the U.S. to find the best financing terms for your property, even if that ends up being outside the world of HUD financing. It doesn't matter if you're buying or building, renovating or expanding, shopping your loan to multiple lenders puts you in a strong position to pick the financing terms that meet your needs.
Our experienced team of capital markets advisors will source the very best terms from our unparalleled network of lenders to ensure your property gets the best financing terms available. We offer this service completely free of charge.
Looking for more information about Boulder? Read on below. Otherwise, click the button below, and we'll get right back to you with your free multifamily loan quote.
Current HUD Multifamily Loans in Boulder
There are a wide range of HUD financing options for multifamily properties in Boulder. Keep reading to learn which one could be the most suitable for your property.
HUD 223(f) Loans
A HUD 223(f) loan is an extremely versatile financing option that can be used for the acquisition or refinance of a multifamily property with more than five units. With long, fully amortizing terms, fixed interest rates and high LTVs, these loans can be the ideal financing vehicle to acquire a multifamily property.
HUD 221(d)(4) Loans
The HUD 221(d)(4) loan is the highest-leverage, lowest-cost construction loan available for a multifamily development. Offering terms of up to 43 years at a fixed interest rate, this financing is extremely popular with developers for good reason. During construction, the loan is interest-only (for up to three years), and upon completion the note has a fully amortizing, 40-year term.
HUD 223(a)(7) Loans
Fast isn't what most people might think of when they think of getting a HUD multifamily loan. However, a HUD 223(a)(7) loan offers both speed and simplicity, with fewer reports and documentation needed. At the same time, this program offers loans with lengthy, fully amortizing terms, and low, fixed rates in a non-recourse package.
Note that while a HUD 223(a)(7) loan can be a wonderful option, it is only available for properties with existing HUD multifamily debt.
HUD 241(a) Loans
If you need supplemental financing for your apartment building in Boulder, a HUD 241(a) loan could be a great option. These loans are non-recourse and offer financing at a loan-to-cost ratio of 90% for for-profit entities and 95% for nonprofits. You need an existing HUD loan on your apartment building or healthcare property to qualify.
Interest rates are fixed, and the loan's term length typically will match the term of the senior HUD loan on the property, though in many cases this term can be extended up to 40 years.
HUD 232/223(f) Loans
HUD's healthcare property loan, the 232/223(f) loan, is similar to the previously mentioned HUD 223(f) financing option. Useful for purchasing or refinancing healthcare properties (including skilled nursing and assisted living facilities), the loan does have some restrictions in terms of commercial space. However, the benefits of a 35-year, fully amortizing term at a fixed rate is unparalleled in the healthcare sector.
Think a HUD multifamily loan could be right for your property in Boulder? Add your details to the form below, and we’ll match you with the best lender — and loan — for your investment strategy.
Multifamily Property Insurance in Boulder
This part isn't about loans, but it's just as important to your investment's success: insurance.
Multifamily insurance premiums have shot through the roof over the past few years, as I'm sure you know. Whether you own (or plan to own) a market-rate apartment building or an affordable housing property, this will have a huge impact on your profitability — and, worst case, ability to operate at all.
Janover Insurance Group is dedicated to finding the best insurance solutions for your multifamily property in Boulder, regardless of if it's affordable housing or if you're using a HUD loan. Click to get a free insurance quote for your property — no obligation whatsoever.