Underwrite the opportunity
We review sponsorship, property performance, business plan, and priorities before approaching the market.
HUD/FHA financing
HUD & FHA Insured Multifamily and Healthcare Financing
Quick answer: 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.
NationwideMarket coverage
1,000+Capital relationships
$2MM+CLS engagement floor
24 hoursInitial response
When it fits
When HUD/FHA financing fits.
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.
Structure before pricing: leverage, recourse, reserves, prepayment, and closing certainty can matter as much as the headline coupon. We test those trade-offs before recommending a path.
01
Market-rate multifamily refinance and acquisition (223(f))
02
New construction and substantial rehab (221(d)(4))
03
Streamlined rate-and-term refinance (223(a)(7))
04
Seniors housing, assisted living, and skilled nursing (232)
05
LIHTC and affordable preservation
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Workforce housing with long hold strategies
Lender selection
How We Source HUD/FHA Capital
We do not treat the lender list as a directory. We target the desks whose current appetite fits the asset, sponsorship, market, and business plan, then compare the full execution, not only the rate.
| Capital source | Where it may fit |
|---|---|
| HUD MAP-Approved Lenders | Programmatic multifamily or housing capital with defined underwriting, documentation, and eligibility requirements. |
| FHA LEAN-Approved Lenders (Healthcare) | Programmatic multifamily or housing capital with defined underwriting, documentation, and eligibility requirements. |
| Specialty Affordable Housing Lenders | Program-specific capital evaluated for current appetite, proceeds, pricing, recourse, flexibility, and certainty of close. |
How we work
One process. Multiple capital sources.
We position the transaction, identify the lenders most likely to compete, and compare proposals on economics and execution risk, not just headline rate.
A well-structured financing process should create real choices for the borrower, not simply deliver the first term sheet.
Target the right lender desks
The transaction is matched to lenders whose current appetite fits the property, market, and structure.
Create a comparable field
Proposals are evaluated across rate, proceeds, recourse, reserves, prepayment, and closing certainty.
Manage execution through closing
We coordinate lender diligence, third-party reports, and issue resolution until the loan funds.
National reach
Market knowledge where the deal requires it.
We arrange hud/fha financing nationwide while matching each transaction to capital sources active in that market and property type.
Atlanta, GABoston, MAChicago, ILDallas, TXDenver, COHouston, TXLos Angeles, CAMiami, FLNashville, TNNew York, NYPhoenix, AZSan Diego, CASan Francisco, CASeattle, WATampa, FL
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Questions
HUD/FHA financing, clarified.
The final structure depends on the asset, sponsorship, and market. These are the starting parameters we discuss most often.
Working out equity? Our commercial property down payment guide covers typical requirements by loan type: 20% to 30% conventional, 10% for SBA owner occupied.
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.
Let's evaluate the right hud/fha structure.
Share the property and financing request. We will respond within 24 hours with an initial view.