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 223(f) Apartment Loans - Freddie Mac - Fannie Mae Multifamily
National Apartment Loans
Tuesday, August 4, 2009
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Commercial Mortgage - Apartment - Healthcare
