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When the ball stops rolling…
The way to catch a knuckleball is to wait until it stops rolling and then pick it up. – Bob Uecker In baseball, the knuckleball
FHA-insured financing to acquire or refinance affordable multifamily projects offers fixed rates, higher leverage, and longer amortization. It works very well with LIHTC and soft debt.
FHA-insured financing for acquisition or refinance is available with:
Affordable projects can take advantage of more favorable FHA underwriting.
Debt service coverage and loan-to-value vary depending on the affordability of the project. Properties with project-based Section 8 get the highest LTVs and the lowest coverage, while LIHTC projects are underwritten depending on their rent advantage versus market. All FHA-insured loans for acquisition or refinance are fully amortizing with a 35-year term, and loan proceeds can be used for moderate rehab, typically up to about $54,000 per unit.
Interest rates on FHA-insured loans are fixed just before closing and remain fixed for the life of the loan. FHA-insured loans are fully assumable and prepayable at any time, subject to declining prepayment penalties.
The way to catch a knuckleball is to wait until it stops rolling and then pick it up. – Bob Uecker In baseball, the knuckleball
In the past few weeks, the multifamily industry has seen a flood of rumors – program revisions, regulatory rollbacks, funding cuts, and changes at HUD.
The change in Administration brought with it a flood of news about agency closings, furloughs, buyouts, and the like. It’s been tough to keep up.
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