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FHA Multifamily Loans

HUD Form 92264: Multifamily Summary Appraisal Report

HUD Form 92264: Multifamily Summary Appraisal Report

HUD Form 92264, also known as the Multifamily Summary Appraisal Report, is one of the essential forms that an appraiser will need to complete and submit to HUD before a property can be approved for HUD multifamily financing.

Are HUD/FHA Loan Programs Only for Affordable Housing?

Are HUD/FHA Loan Programs Only for Affordable Housing?

One of the most common misconceptions about HUD is that it focuses only on low-income, Section 8, and affordable housing. In reality, the HUD 223(f) program is available for all types of market-rate multifamily properties.

What are the Benefits of HUD 221(d)(4) Loans?

What are the Benefits of HUD 221(d)(4) Loans?

Some multifamily developers and investors shy away from HUD loans. Many feel there is a stigma attached to them. Others misunderstand the products, believing they are only for low-income and affordable housing projects. However, these things are not true. In comparison, HUD multifamily loans have several benefits which make them some of the best products in the business:

HUD Section 8 Renewal Guide: What Investors Need to Know

HUD Section 8 Renewal Guide: What Investors Need to Know

The HUD Section 8 program is the Department of Housing and Urban Development’s (HUD’s) flagship housing assistance program. Most Section 8 properties are governed under a Housing Assistance Payment (HAP) contract between HUD and the landlord. HAP contracts generally last between 5 and 20 years, with the majority being 20-year contracts. Most landlords are not obligated to renew their contract after it expires, but, in certain cases, some may be.

What is the HUD Multifamily Database?

What is the HUD Multifamily Database?

HUD provides public access to multiple databases relevant to their multifamily housing programs, including the HUD firm commitments and endorsements database, the HUD multifamily mortgage database, and the HUD terminated mortgages database. Each of these may have value to multifamily investors in different situations. In this article, we’ll review HUD’s main multifamily data sets and how borrowers, investors, and others can use them to their advantage.

What is the Housing Choice Voucher Program?

What is the Housing Choice Voucher Program?

The HUD Section 8 program is the U.S. government's largest housing assistance program. In order to help low-income families find quality housing, a local Public Housing Authority (PHA), funded by HUD, will pay a private landlord part or all of the unit’s rent. The largest program within Section 8 is called the Housing Choice Voucher Program, which allows a family to choose their own unit from within the pool of Section 8 properties in their area.

What’s the Difference Between HUD 223(f) and HUD 221(d)(4) Loans?

What’s the Difference Between HUD 223(f) and HUD 221(d)(4) Loans?

Some people wonder what the difference is between the HUD 223(f) and HUD 221(d)(4) programs. To help you out, we’ve provided a side-by-side comparison of each. Click on the post to find out more!

What is a Capital Needs Assessment?

What is a Capital Needs Assessment?

Capital Needs Assessments (CNAs), also known as Physical Needs Assessments, are property inspection reports that estimate the future costs of property maintenance, as well as determining the cost to repair any parts of a property that must be fixed urgently. Capital Needs Assessments are required during the application process for all HUD/FHA multifamily loans, including the HUD 221(d)(4), HUD 223(f), and HUD 223(a)(7) programs, as well as the HUD 232 loan for seniors healthcare properties.

What is Fair Market Rent?

What is Fair Market Rent?

Fair Market Rents (FMRs) are a statistic developed by HUD in order to determine payments for various housing assistance programs, most notably, the Section 8 Housing Choice Voucher Program. FMRs differ by local area, and are updated on an annual basis. You can determine current and historical FMRs for your area by visiting HUD’s FMR Dataset and Search Tool.

The Top 10 HUD Multifamily Lenders of 2018-2019

The Top 10 HUD Multifamily Lenders of 2018-2019

HUD’s multifamily loan programs are some of the most popular apartment loans on the market, offering high leverage, non-recourse, fully amortizing financing at extremely competitive rates. While it’s much easier to determine exact numbers for Freddie Mac® and Fannie Mae® Multifamily loans (as they publish significantly more comprehensive year end reports), we’ve done our best to provide the most recent information about the top HUD/FHA multifamily lenders in the industry today. Despite the lack of available data from 2018, there’s not much reason to believe that this list will become substantially different over the next 8-12 months.