HUD 223(f) Loans
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The HUD 223(f) loan program is a long-term, fixed-rate, non-recourse loan intended for the acquisition or refinancing of multifamily properties. The program offers LTVs up to 85% for market-rate properties and fully-amortizing loan terms up to 35-years, among other benefits.
Bravo Capital provided $2.3 million in refinancing for a 60-unit affordable community through HUD's 223(f) program.
A bridge-to-HUD loan allows borrowers to purchase a multifamily property quickly and later transition into long-term HUD-insured financing.
The developer received a $58.4 million construction loan and a $55.6 million refinancing through HUD programs.