Refinance Loans
With their low interest rates, HUD 223(f) loans are ideal for refinancing apartment and multifamily properties. Borrowers can refinance up to 87% of market value for market-rate properties, and up to 90% for subsidized properties.
HUD 223f Loans for Property Refinancing
Due to their low interest rates, HUD 223f loans are an ideal way to free up capital for other needs. When used for refinancing multifamily properties, the maximum FHA 223(f) loan amount must be the lesser of:
The amount that can be serviced by 87% or 90% of net operating income for market rate, affordable, rental assisted, or Section 202 properties, respectively
87% or 90% of value for market rate or affordable, rental assisted, or Section 202 properties, respectively
“The greater of 80% of value or 100% of the total cost of refinancing the existing indebtedness and other mortgageable transaction costs”
100% of mortgageable transaction costs minus any applicable public loans, grants, and tax credits (i.e. LIHTC credits).
Any existing statutory per unit limits.
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