If you’re a multifamily developer trying to attract investors in today’s market, FHA can help close the deal.
Faced with economic headwinds, a wave of maturing loans, and higher interest rates, multifamily delinquency and default rates trended upward through much of 2025. Data from the Mortgage Bankers Association shows that delinquencies, down slightly in the third quarter for banks and life companies, were up significantly for Fannie Mae, Freddie Mac, and CMBS.
Multifamily is still the preferred asset class for investors in commercial real estate, but with defaults up and yields down, underwriting is getting tougher.
Why does this matter for your next deal?
FHA multifamily loans have a delinquency rate of just 0.27%. That’s one-third of Fannie’s rate and a tiny fraction of CMBS defaults. The latest data from FHA shows that out of 11,000 FHA-insured loans, only 24 were more than 60 days past due.
Most developers know that FHA multifamily loans are nonrecourse. What many don’t realize is that FHA’s rigorous underwriting results in a 0.27% default rate. With an FHA commitment in hand, your investors aren’t betting on just their underwriting (or yours). They’re betting on a deal that’s been thoroughly vetted and very likely to succeed.
Add FHA’s competitive fixed rates and longer terms, and you’ve got a financing structure that makes investor conversations easier, not harder.
Offer investors reassurance that a deal with an FHA commitment is solid.
AGM’s underwriting team works directly with you throughout the process to identify potential issues and resolve problems before they happen. Fewer surprises. Smoother closings. Better deals.
Working to bring investors into your next project? We can show you how to use FHA’s track record to your advantage. Talk to AGM.
About AGM Financial Services, Inc.
Family-owned with over 30 years of experience, AGM has closed over $10 billion in FHA-insured multifamily project loans nationwide. We underwrite, fund, and service all of our loans. Developers and owners can count on AGM to be accessible, transparent, consistent, and ready to lend. From new construction to substantial rehabilitation to acquisition and refinance — for both market-rate and affordable projects — we can get the deal done. To learn more about AGM, call 800.729.4266 or visit agmfinancial.com.