HUD & FHA Multifamily Loans

HUD and FHA multifamily loans offer the longest terms and highest leverage available in commercial real estate. Programs like 223(f) for refinance and acquisition, 221(d)(4) for new construction and substantial rehab, 223(a)(7) for streamlined refinance, and 232 for seniors housing and healthcare deliver 35 to 40 year fully amortizing non-recourse debt at below-market rates.

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HUD/FHA Multifamily Loans at a Glance

Loan Amount
$5M to $100M+
Term
35 to 40 Years
Rates
5.25% to 6.75%
Ltv
Up to 85% LTV (90% for affordable)
Amortization
Fully Amortizing
Recourse
Non-Recourse

HUD & FHA Insured Multifamily and Healthcare Financing

FHA insurance, administered by HUD, allows lenders to provide loan terms that no other capital source can match. The tradeoff is a longer, more prescriptive closing process, typically 6 to 9 months, with detailed physical and financial underwriting. For borrowers who plan to hold assets long term, HUD/FHA is often the most accretive execution available. Commercial Lending Solutions works with a deep bench of HUD MAP-approved lenders to structure applications that move efficiently through FHA review.

Lender Sources

  • HUD MAP-Approved Lenders
  • FHA LEAN-Approved Lenders (Healthcare)
  • Specialty Affordable Housing Lenders

Ideal For

  • Market-rate multifamily refinance and acquisition (223(f))
  • New construction and substantial rehab (221(d)(4))
  • Streamlined rate-and-term refinance (223(a)(7))
  • Seniors housing, assisted living, and skilled nursing (232)
  • LIHTC and affordable preservation
  • Workforce housing with long hold strategies

Related Property Types

HUD/FHA Multifamily Loans are available for all major commercial property types. Explore financing by property category.

Related Insights

HUD/FHA Multifamily Loans FAQ

HUD/FHA multifamily loans are mortgages insured by the Federal Housing Administration and administered by the U.S. Department of Housing and Urban Development. FHA insurance allows lenders to offer the longest terms (35 to 40 years), highest leverage (up to 85% to 90% LTV), and among the lowest fixed rates available in commercial real estate.
223(f) is used to refinance or acquire existing stabilized multifamily. 221(d)(4) funds new construction and substantial rehabilitation. 223(a)(7) is a streamlined refinance of an existing HUD loan. 232 covers seniors housing, assisted living, and skilled nursing facilities.
HUD/FHA loans have the longest timeline of any commercial program, typically 6 to 9 months from application to close. The process includes detailed physical, financial, and management underwriting, so borrowers who value the long-term and non-recourse benefits need to plan for a longer closing window.
Yes. HUD/FHA loans are fully assumable subject to lender and HUD approval of the new borrower. This is a meaningful long-term benefit, because a buyer inheriting a low-coupon 35-year fixed rate can materially increase the property's exit value.
HUD/FHA leverage reaches up to 85% LTV for market-rate deals and up to 90% LTV for affordable housing under 223(f). Construction loans under 221(d)(4) provide up to 85% loan-to-cost. All are subject to a minimum DSCR, typically 1.15x to 1.20x.
Only lenders approved under HUD's Multifamily Accelerated Processing (MAP) program can originate most HUD multifamily loans. Commercial Lending Solutions has active relationships with the majority of national and regional MAP lenders, which lets borrowers run a competitive process rather than being locked into a single quote.

Ready to Get HUD/FHA Financing?

Contact Commercial Lending Solutions for a free, no-obligation quote on hud/fha multifamily loans. We respond within 24 hours.

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