Commercial Overview :: Commercial Program :: Multifamily Program
FHA Multifamily Refinance Program :: FHA Multifamily Construction Program

The Federal Housing Administration (FHA) provides mortgage insurance to facilitate the new construction or substantial rehabilitation of multifamily rental properties.

The benefits of this program include:

1. No rent restrictions
2. No affordable leasing requirements
3. Loan terms up to 40 years
4. Extremely low fixed interest rates
5. Non-recourse
6. Allow higher loan-to-cost ratios
7. 10% builder’s fee added into cost in loan-to-cost ratios
8. Lower debt service coverage
9. The property may include commercial/retail space
10. AAA credit enhancement for the tax-exempt bond financed transactions, and eligibility for securitization by Ginnie Mae

For new properties and substantial rehabilitation, the construction loan can convert to a permanent loan upon completion of the building phase. Interest rates are fixed for the construction and the 40 year permanent loan term prior to the start of construction.

The unique demands and processes of HUD/FHA multi-family financing are generously offset by the advantages. Additionally, HUD’s MAP Program (Multifamily Accelerated Processing) coupled with CMC’s streamlined internal procedures and staff of FHA experienced professionals, bring greater speed and efficiency to meet your accelerating needs.

Beyond our robust selection of products, CMC’s expertise and steadfast commitment to remarkable customer service are what sets us apart from the rest. We can help meet your most critical financial and timing needs. Personal attention guaranteed.