HUD Loans, a Janover property

HUD-Insured Multifamily Loans, Simplified.

Our mission is to simplify and streamline the HUD loan process for everyone, multifamily owners and developers alike.

Why HUD

HUD-Insured Loans

It may be common knowledge that the Department of Housing and Urban Development is the source of the apartment industry's most affordable, longest-term, best-leveraged, fully amortizing, non-recourse, assumable financing. Unfortunately, due to perceptions of insurmountable red tape and lengthy closing times, many people believe that HUD loans aren’t worth the trouble. As a result, many multifamily investors never even consider what could be their best source of financing. In contrast, the reality is this: Besides being grossly misunderstood, HUD-insured loans are some of the greatest and most underused tools in the industry.

Non-recourse. Fully amortizing. High leverage.

Our team exists solely to help others secure HUD-insured multifamily financing. To do this, we provide clear and realistic expectations, a well-communicated timeline, and easy-to-understand requirements. This allows us to successfully work with multifamily investors who have never considered a HUD or FHA loan. We also work with owners and developers that may have unpleasant experiences with intermediaries or lenders that may not have been a great fit. We partner with industry leaders and investors that fund billions of dollars in loan volume per year. As a result, we know the strengths and weaknesses, the niches, and each team's ability to execute. Our underwriting is always a deep dive, and hiccups are thoroughly avoided through clear communication and rigorous work on our end. In brief, we are experts in arranging FHA-insured loans for market-rate, affordable and senior multifamily properties, providing certainty of execution to every client.

FHA/HUD programs

Every HUD multifamily program, one desk.

HUD program

HUD 223(f)

UsePurchase or refinance
Term35 years, fixed, fully amortizing
LeverageUp to 87% LTV, higher for subsidized
RecourseNon-recourse

HUD 223(f) is intended for the purchase or refinance of apartment properties of any class, including cooperatives, affordable housing, independent living or subsidized multifamily properties. 223(f) loans are fixed rate and fully amortizing during the 35-year term with available leverage of up to 87% LTV, and even higher for subsidized properties. All FHA-insured multifamily debt, including 223(f) loans, are non-recourse with standard carve-outs.

Current HUD 223(f) Rates and Terms →

HUD program

HUD 221(d)(4)

UseConstruction or substantial rehab
Term40 years + up to 3-year interest-only build period
LeverageUp to 87% of cost, higher for affordable
RecourseNon-recourse

HUD 221(d)(4) is probably the best known HUD product, used for ground-up construction or substantial rehabilitation of multifamily properties. These loans offer leverage up to 87% of cost for market-rate developments, going even higher for affordable properties. They are fixed rate and fully amortizing for 40 years after an up to three-year, fixed-rate, interest-only period during construction. HUD 221(d)(4) debt is non-recourse with standard carve-outs.

Current HUD 221(d)(4) Rates and Terms →

More HUD programs

35-yr
fixed-rate, fully amortizing terms under HUD 223(f)
87%+
of cost financed for market-rate HUD 221(d)(4) construction, higher for affordable
1.11x
minimum DSCR for affordable properties, 1.15x market-rate
$1B+
in commercial real estate debt closed by the desk's principals

The platform

About Janover

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