Chicago, IL FHA 221(d)(4) Lender - Apartment Lender

Saturday, December 20, 2008

FHA 221 d4 Loans are for New Construction and Rehab of Apartments

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.

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