For multifamily projects that need to get underway quickly and can get a conventional construction loan, refinancing the completed project with an FHA-insured takeout can be a great option.
An FHA-insured refinance for multifamily offers fixed rates, higher leverage, and longer amortization, all nonrecourse, with no limits on rents, tenants, or returns.
FHA-insured financing* is available at the lesser of:
*Up to $125 million
FHA-insured loans for refinancing are fully amortized with a 35-year term.
Interest rates on FHA-insured loans are fixed just before closing and remain fixed for the life of the loan. Loans are fully non-recourse, subject only to certain “carve-outs” such as fraud, theft of funds, or unapproved transfers of ownership.
The change in Administration brought with it a flood of news about agency closings, furloughs, buyouts, and the like. It’s been tough to keep up.
AGM Financial Services, Inc. is proud to announce the successful closing of a $14,450,500 Section 221(d)(4) mortgage for this 100 unit new construction project. The
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