The Department of Housing & Urban Development (HUD) offers loan programs through FHA approved lenders. These loan programs carry mortgage insurance backed by the Federal Housing Administration (FHA) and offers attractive financing because these loans issue mortgage backed securities guaranteed by the Government National Mortgage Association (GNMA). These programs are a great option for owners of multifamily and healthcare properties.
HUD loans can be utilized to purchase, refinance, construct or rehabilitate multifamily or healthcare properties. HUD/FHA insured loans have a non-recourse feature (with the exception of standardized carve outs) and fixed terms/amortizations, with durations of up to 35 years for refinance, purchase, or substantial rehabilitation, and up to 40 years for new construction.
LSG Lending Advisors is proud to offer a variety of HUD loans that can be utilized for a variety of business needs:
HUD Loan Requirements For Multifamily and Healthcare Properties
Each HUD program has its own loan requirement characteristics based on the type of lending product. When considering a HUD loan, it is important to carefully review the following provisions and determine which ones will apply to your specific program.
- Definition of Eligible Borrower & Type of Property
- Equity Requirements
- Amortization & Loan Terms
- Cash Out
- Replacement Reserves
- Rate Lock Deposit
- Non-Recourse
- Prepayment Terms
- Assumable Mortgage
- Escrows
You can count on the highly experienced professionals at LSG Lending Advisors to help you choose the best HUD loan to suit your business objectives.