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There are Encouraging Signs, But No Clear Direction…Yet
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
FHA-insured financing to acquire or refinance affordable multifamily projects offers fixed rates, higher leverage, and longer amortization. It works very well with LIHTC and soft debt.
FHA-insured financing for acquisition or refinance is available with:
Affordable projects can take advantage of more favorable FHA underwriting.
Debt service coverage and loan-to-value vary depending on the affordability of the project. Properties with project-based Section 8 get the highest LTVs and the lowest coverage, while LIHTC projects are underwritten depending on their rent advantage versus market. All FHA-insured loans for acquisition or refinance are fully amortizing with a 35-year term, and loan proceeds can be used for moderate rehab, typically up to about $52,000 per unit.
Interest rates on FHA-insured loans are fixed just before closing and remain fixed for the life of the loan. FHA-insured loans are fully assumable and prepayable at any time, subject to declining prepayment penalties.
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
For the fourth consecutive year, AGM Financial Services (AGM) donated a total of $100,000 to four Baltimore nonprofit organizations. Recipients will receive a $25,000 unrestricted grant that
In November, we told you about two proposed changes to FHA underwriting meant to increase multifamily production. Now it’s official. Late yesterday, HUD announced changes
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