FHA is currently offering the only program with an apartment development loan of 90% of the cost. The FHA program has been used for apartment development for over 40 years and its terms are still very favorable to developers. The debt service coverage is 1.11 to 1 and the loan term is 40 years plus amortization.
We are currently processing several FHA 221 D4 loans and our pipeline is growing. If you are looking for an apartment development or rehab loan call Scott Kendall at (847) 903-7578 for a quote.
Kendall Realty Advisors one of the top FHA 221(d)(4) Apartment Lending teams. We have spent over twenty five years each, lending on Apartments and Healthcare properites using FHA and FNMA programs - national multifamily and healthcare loans usingFannie Mae, Freddie Mac and FHA lending programs.
Terms, Loan Programs and Rate Links:
Saturday, December 20, 2008
FHA 221 d4 Loans are for New Construction and Rehab of Apartments
Labels:
FHA,
FHA 221 D4,
FHA 232,
FHA 242,
FHA Apartment Loans,
FHA Multifamily Loan
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