FHA Apartment Loan Rates

FHA 223(f) GNMA rates have been around 5% plus MIP for apartment refinance and purchase loans.

FHA 221(d)(4) GNMA rates have been just below 6% plus MIP for apartment construction and rehab loans.

FHA 223(f) Apartment Loans New Construction Takeouts

FHA is offering waivers for the three year rule for properties that have a Certificate of Occupancy (Co) prior to the date of loan application. This allow us to use the FHA 223(f) program to finance up to 85% of the value of the property if there is no cash out and 80% of the value in cash out transactions.

See:http://www.kendallrealtyadvisors.com/FHA223F.html

FHA Apartment Loan Rate

The treasury auction flops rates on 10 year treasury jump 15 basis points.

Rates are going up.

Apartment and Healthcare Loans

The State of Apartment and Healthcare Finance - by Kendall Realty Advisors, Scott Kendall VP-CFO

FHA 223(f) Rates in 5.25% to 5.75% range including MIP
Large Cash out Requests are getting looked at very carefully. 1.17 to DSC
80% cash out loans (Maybe) 85% loans to purchase or up to 85% refinance no cash out.


Fannie Mae Freddie Mac Multifamily Rates about 5.5% 75% loan to value cash outs.

80% Purchase transactions. 1.25 to 1 DSC

FHA 221(d)(4) - Affordable Deals more likely to be approved. Market Rate Deals ONLY IN VERY STRONG MARKETS (ex: Downtown Chicago new construction not likely to be approved).

In conclusion, refinance money is available but large cash outs transactions will not be approved above 75% Fannie Mae 80% FHA (Kendall Opinion)

New Construction Waivers and 85% loans will be approved for stabilized recent construction transactions as part of the emergency waiver.

All in All apartment lending even with more conservative lending practices is in the best shape of commercial lending programs due to the three agency programs.

FHA 232 Lean CWCapital is a leader in FHA Lean, Program great for rehabilitation loans to meet new federal safety standards and for assisted living facilities.

FHA 242 Hospital Loans - Program much faster and streamlined. We are working on several transactions, the rates are low but higher than multifamily loan rates, since we can not use GNMA to provide a AAA rating.

Apartment Construction Loans and Affordable Housing

Our experience professionals can give you the a straight answer on your refinance or construction loan options and rates. We have been providing FHA Fannie Mae and Freddie Mac Apartment Loans for over 25 years.

Kendall Realty Advisors is providing loans for Market Rate Apartments and Affordable Multifamily Developments using FHA, Fannie Mae and Freddie Mac.

Rates for New Construction are less than 7% and refinance rates are in the low 5% range.

Kendall Realty Advisors are also working on several tax-exempt bond transactions using FHA and Freddie Mac credit enhancement.

FHA Apartment Rates

FHA 223(f) Rate 5.45% plus MIP

FHA 221(d) Rates 6.3% plus MIP