Multifamily Acquisition
        
HUD Section 223(f) insures lenders against loss on mortgage defaults. The program allows for long- term mortgages (up to 35 years) that can be financed with Government National Mortgage Association (GNMA) Mortgage-Backed Securities. This eligibility for purchase in the secondary mortgage market improves the availability of loan funds and permits more favorable interest rates.

85% Loan-to-Value

35 Year Amortization

35 Year Term (no balloon)

7.5% Seller promissory note allowed for down payment requirements

No maximum loan amount
                       
Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield

No personal liability (non-recourse)

Negotiable pre-payment terms

1:18 Minimum Debt Service Coverage

This loan is always assumable

Third-party expenses and loan costs may be financed. 

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.