HUD Section 202 Housing Loan Program

Program Overview:                                           

Recently, HUD issued policy change H 04-21 to the Section 202 Housing Code. This major policy change allows Section 202 communities to refinance debt at today’s low rates and use the savings to improve facilities and enhance the living experience for residents.

—  90% Loan-to-value, no cash out
—  35 Year amortization
—  35 Year Term (no balloon)
—  No maximum loan amount
—  Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
—  Negotiable pre-payment terms
—  1:18 Minimum Debt Service Coverage
—  Third-party expenses and loan costs are financeable.   
—  Net Operating Income and valuation may utilize Section 8 Contract rents

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.  Contact us for detailed information or a specific quote on a project.

Multifamily – Acquisition / Refinance

__ 85% Loan-to-Value – Acquisition or Refinance
__ 80% Loan-to-Value for Cash-Out Refinance
__ 35-Year Amortization
__ 35-Year Term (no balloon)
__ 7.5% Seller promissory note allowed for down payment requirements  (Acquisition Only)
__ Low, fixed interest rate, based on market spreads over the Ten-Year Treasury yield.
__ No maximum loan amoun
__ No personal liability (non-recourse)
__ Negotiable pre-payment terms
__ 1:18 Minimum Debt Service Coverage
__ This loan is always assumable
__ Third-party expenses and loan costs are financeable.

Private Equity Program for Apartments

• No prepayment penalties!
  
• Acceptable Property Types – Multi Tenant Apartments, Office & Retail
  
• Loan amounts from $500,000 to $50MM 
• Lending in 48 states
• Interest only, 1-3 year programs 
  
• Closings in 2 to 3 weeks
• Max LTV is 75%
• 600 minimum credit 
• Terms depend on collateral and credit
  

COMPLETE AND Email to smorse@cmpcommercial.com