• Market Rate: 85% Loan-to-Replacement-Cost • HUD’s Replacement Costs include hard and soft construction costs, financing, closing and legal costs. Some costs are excluded. • Subsidized: 1.11x (90% of NOI) • Affordable: 1.15x (87% of NOI) • Market Rate: 1.176x (85% of NOI) Fixed rate subject to market conditions at time of rate lock. While early rate locks are not available for HUD 223(f) financing, rate locks are available at HUD firm commitment, which is usually around 30-45 days before closing. Rate locks typically cost between 0.5% and 1% of the total loan amount and are refunded at closing. Rate lock deposit is 0.5%, refunded at closing. New loan amount is equal to the unpaid principal balance of the existing mortgage as of the closing of the modification. Loan term and maturity likewise remain unchanged from existing mortgage. Debt service coverage of at least 1.05x is required.

Market Rate: 1.176x 85% of NOI Interest Rate Fixed rate subject to market conditions at time of rate lock. Annual Mortgage Insurance Premium Subsidized: 0.45% Affordable: 0.45% Market Rate 221(d)(4): 0.65% Market Rate 220: 0.70% Maximum Term/Amortization 40 years, or 75% of remaining useful life, from initial principal payment. The 221(d)(4) program is authorized by the National Housing Act (12 U.S.C. 17151 (d)(4). Program regulations are found at 24 CFR 221, subparts C and D. Basic TAP program instructions are in HUD handbook 4560.01 - Mortgage Insurance for Multifamily Moderate Income Housing Projects available on HUDclips . Construction or Substantial Rehabilitation of Multifamily Properties FHA/HUD SECTION 221(D)(4) Highlights: Eligible Properties. Market rate, low-to-moderate income and subsidized multifamily properties. Lower interest rate, free energy and water audit report, up to 5% more loan proceeds, increased net cash flow by As of January 10, 2020 rates for 221(d)(4) loans were only 3.81% HUD 221(d)(4) CONSTRUCTION OF MULTIFAMILY PROPERTIES The 221(d)(4) loan, guaranteed by HUD, is by far the highest-leverage, lowest-cost, longest term, fixed-rate, non-recourse loan available in the multifamily industry. 221(d)(4) loans are fixed-rate and fully amortizing for 40 years plus the same interest-only fixed rate during construction. HUD 221(d)(4) Loan Program Overview The HUD 221(d)(4) program provides high leverage, non-recourse construction or rehab financing for multifamily assets throughout the United States. The program offers construction and permanent financing "all in one", and provides exceptionally high leverage and low interest rates.

9 Jan 2020 Market Rate MultiFamily STREAMLINED REFINANCE OF EXISTING HUD- INSURED LOANS - HUD SECTION 223(a)7. STREAMLINED REFINANCE INTEREST RATE REDUCTION LOAN MODIFICATION – (IRR) NEW CONSTRUCTION OR SUBSTANTIAL RENOVATION - HUD SECTION 221(d)4.

HUD 221(d)(4) Interest Rates One of the most tangible benefits of HUD 221(d)(4) loans is their incredibly competitive fixed interest rates . Unlike some types of multifamily financing, which involve adjustable rate mortgages, HUD multifamily construction loan are always fixed-rate. However, as a result of an amendment to Section 224 of the Act, if an insurance claim relating to a mortgage insured under sections 203 or 234 of the Act and endorsed for insurance after January 23, 2004, is paid in cash, the debenture interest rate for purposes of calculating a claim shall be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years. HUD 221(d)(4) loans are intended for the construction or substantial rehabilitation of apartment buildings and multifamily properties, start at $2 million, are non-recourse, and offer fixed-rate terms of 40 years with an additional 3-year, interest-only construction period. The 221(d)(4) loan, guaranteed by HUD, is by far the highest-leverage, lowest-cost, longest term, fixed-rate, non-recourse loan available in the multifamily industry. 221(d)(4) loans are fixed-rate and fully amortizing for 40 years plus the same interest-only fixed rate during construction. Our FHA multifamily mortgage bankers provide industry-leading execution for HUD 221(d)(4) multifamily construction and substantial rehabilitation financing. FHA 221(d)(4) debt is available for market-rate multifamily properties, affordable properties, and independent living facilities. These loans o Maximum Loan Amount. Will be the lesser of: 85% of total eligible development costs (for market rate); 87% for LIHTC restricted; 90% for properties with at least 90% rental assistance, Development cost includes value of land for new construction and as-is value of property for substantial rehabilitation.

HUD 221(d)(4) Interest Rates One of the most tangible benefits of HUD 221(d)(4) loans is their incredibly competitive fixed interest rates . Unlike some types of multifamily financing, which involve adjustable rate mortgages, HUD multifamily construction loan are always fixed-rate.

HUD 221(d)(4) loans are intended for the construction or substantial rehabilitation and offer fixed-rate terms of 40 years with an additional 3-year, interest-only  12 Feb 2020 The interest rate for debentures issued under Section 221(g)(4) of the Act during the 6-month period beginning January 1, 2020 is 2.250 percent. Summary: Section 221(d)(4) insures mortgage loans to facilitate the new construction or substantial rehabilitation of multifamily rental or cooperative housing for  Arbor provides FHA-insured, long-term, fixed-rate financing for new construction or HUD-experienced development teams may request “straight to firm” Loan Term & Amortization, Construction loan period (interest-only), followed by  Rate Lock Good Faith Deposit: 0.50% x Loan Amount refunded 45 days after closing. HUD Fees. Borrower is responsible for following HUD fees that can be paid  23 Mar 2017 Generally, the only change in terms with HUD would be fluctuations of interest rates at the time of rate lock. A HUD loan really provides the 

Interest Rates. Based on market. Set upon acceptance of Firm. Commitment and fixed for entire construction and permanent term. Prepayment Provisions.

Rate Lock Good Faith Deposit: 0.50% x Loan Amount refunded 45 days after closing. HUD Fees. Borrower is responsible for following HUD fees that can be paid  23 Mar 2017 Generally, the only change in terms with HUD would be fluctuations of interest rates at the time of rate lock. A HUD loan really provides the  25 Feb 2019 A shorter application review period allows borrowers to lock in better interest rates sooner, an important capability in a rising interest rate 

Arbor provides FHA-insured, long-term, fixed-rate financing for new construction or HUD-experienced development teams may request “straight to firm” Loan Term & Amortization, Construction loan period (interest-only), followed by 

HUD 221(d)(4) Interest Rates One of the most tangible benefits of HUD 221(d)(4) loans is their incredibly competitive fixed interest rates . Unlike some types of multifamily financing, which involve adjustable rate mortgages, HUD multifamily construction loan are always fixed-rate. However, as a result of an amendment to Section 224 of the Act, if an insurance claim relating to a mortgage insured under sections 203 or 234 of the Act and endorsed for insurance after January 23, 2004, is paid in cash, the debenture interest rate for purposes of calculating a claim shall be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years. HUD 221(d)(4) loans are intended for the construction or substantial rehabilitation of apartment buildings and multifamily properties, start at $2 million, are non-recourse, and offer fixed-rate terms of 40 years with an additional 3-year, interest-only construction period. The 221(d)(4) loan, guaranteed by HUD, is by far the highest-leverage, lowest-cost, longest term, fixed-rate, non-recourse loan available in the multifamily industry. 221(d)(4) loans are fixed-rate and fully amortizing for 40 years plus the same interest-only fixed rate during construction. Our FHA multifamily mortgage bankers provide industry-leading execution for HUD 221(d)(4) multifamily construction and substantial rehabilitation financing. FHA 221(d)(4) debt is available for market-rate multifamily properties, affordable properties, and independent living facilities. These loans o

The interest rate on a HUD insured loan is negotiated between the borrower, and the development under Sections 220, 221 (d) (4) and 231, the HUD review  Terms and interest rate information for the HUD 223(a)(7) loan program, which allows easy, hassle-free, non-recourse refinancing for existing HUD multifamily  Interest rates are based on the 10 year treasury yield plus a margin. A mortgage insurance premium is added to the rate as well. For more on the HUD 221(D)4  Interest Rate*. Fixed‐rate at commitment for both construcon and permanent loans, based on market condions and risk. Maximum LTC and. Minimum DSCR. 221(d)(4) loans are fixed and fully amortizing for 40 years, not including the up-to-three-years, interest-only fixed-rate during construction. In summary, the loan is fixed for up to 43 years and fully amortizing for 40. HUD loans, unlike most bank loans, are almost completely asset-based. HUD 221(d)(4) Interest Rates One of the most tangible benefits of HUD 221(d)(4) loans is their incredibly competitive fixed interest rates . Unlike some types of multifamily financing, which involve adjustable rate mortgages, HUD multifamily construction loan are always fixed-rate.

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