HUD 101: HUD Financing for Multifamily Communities
We recently hosted a webinar to talk about HUD financing for multifamily communities. We were joined by Lee Oller of Merchant’s Capital, Ted Waldron, an architect and third-party HUD plan reviewer, and Jesse Garland, an associate principal at KEPHART who has been managing HUD projects for more than five years.
For a quick overview on what HUD is and why you should be interested in pursuing HUD financing, read below. To watch the full-length webinar, click here, or on the video at the end of this post.
What is HUD? HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
Advantages of HUD:
- Favorable interest rates and leverage
- Non-recourse
- Fully amoritizing
- Negotiated prepayment penalties
- Assumability
Basic Requirements:
- Over 5 units
- Minimum 85% occupancy
- Single asset entity borrower
- Standard non-recourse carve outs
- Mortgage insurance premium
Watch the full webinar here:
If you have questions about HUD financing or are interested in learning more, please contact us at 303-832-4474.