HUD Programs

Multifamily Housing

Acquisition or Refinance

The HUD 223f program provides non-recourse financing for the purchase of existing multifamily, affordable, or age restricted properties.

Qualified properties can secure 35 year fixed rate, non-recourse financing. Properties can also be assumed by investors and retain the original interest rate.

Market rate properties qualify for 85% LTV, 87% for Affordable, and 90% for projects that have 90% or greater of their units with rental assistance.

Typically, the 223f program takes about 4 months to complete, and provides the best terms available for acquiring and refinancing projects. To qualify, properties must be at least 3 years old since final certificate of occupancy, and must have an average occupancy rate of 85% or higher.

Creative Solutions

BLC combines its FHA programs with our Advisory services to arrive at finance solutions for apartment owners and developers nationwide. Our programs finance acquisitions, refinances, new construction and substantial rehab and offer 80-95% financing and fixed rates for 35-40 years.

We have extensive experience in underwriting and funding deals for the following property types:

1. Market Rate Projects

2. Section 8 (HAP Contract) Properties

3. Mixed Use (Maximum 25% commercial)

4. Historical Tax Credits Transactions

5. Low Income Housing Tax Credits

6. Non-Profit Affordable Housing

7. 202 Properties

8. 236 Projects

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