HUD 223(a)(7)

Can You Refinance an Existing HUD 223(f) Loan?

Can You Refinance an Existing HUD 223(f) Loan?

If you already own a property being financed with a HUD 223(f) loan, and you want to refinance in order to get a better interest rate or to reduce your monthly payments, HUD has a solution for you: a HUD 223(a)(7) refinance. HUD 223(a)(7) refinancing is specifically designed to refinance current HUD multifamily loans, including HUD 223(f) loans, in order to reduce interest rates, increase amortizations, and increase property cash flows, in order to reduce the risk for HUD that a borrower will end up defaulting on their mortgage.