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)
| Use | Purchase or refinance |
|---|---|
| Term | 35 years, fixed, fully amortizing |
| Leverage | Up to 87% LTV, higher for subsidized |
| Recourse | Non-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.
HUD program
HUD 221(d)(4)
| Use | Construction or substantial rehab |
|---|---|
| Term | 40 years + up to 3-year interest-only build period |
| Leverage | Up to 87% of cost, higher for affordable |
| Recourse | Non-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.
More HUD programs
The platform
About Janover
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From the blog
Latest from the HUD desk.
Nov 29, 2024 · 2 min read
How the Office of Fair Housing and Equal Opportunity Affects Your Multifamily Investment
Protect your multifamily investment by learning how HUD's fair housing office (FHEO) can affect how you run your property.
Jun 14, 2024 · 6 min read
Insurance Matters for Your Affordable Housing Investment
Great insurance can make your investment safer while keeping your costs low. Find out how to handle your next multifamily insurance policy for your affordable housing property.
May 21, 2024 · 5 min read
Multifamily Insurance Requirements for HUD 241(a) Loans
Your insurance requirements won't always change with a HUD 241(a) loan, but there are a few factors you must take into consideration.
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