HUD 223(f) Loan Rates
Everything you need to know about fixed interest rates for the HUD 223(f) loan program for the acquisition and refinancing of apartment and multifamily properties.
HUD 223(f) Interest Rates
Designed for the purchase or refinancing of multifamily properties, HUD Section 223(f) offers low-interest, fixed-rate financing on these fully amortizing loans. Borrowers need not fear higher-interest refinances or balloon payments in years to come.
Interest rates are fixed throughout the life of FHA 223(f) loans. Specific rates for HUD 223(f) mortgages are determined by current rates and market conditions at the time of commitment. However, it should be noted that borrowers for these loans are required to pay a mortgage insurance premium, or MIP.
The minimum mortgage term for HUD 223f loans is 10 years. The maximum terms for the mortgage are either 35 years or 75% of the project’s estimated remaining economic life (whichever is less). A longer amortization period allows for lower monthly payments. These loans are also fully assumable and non-recourse.
Today's Rates & Terms
Today's HUD 223(f) interest rates can be found below.
Of course, it's not just about the interest rates. One of the key advantages to HUD 223(f) financing is that other terms, from maximum LTV to amortization, are extremely competitive.
Minimum $1 million (some exceptions allowed on a case-by-case basis)
Minimum term of 10 years, maximum of 35 years, or 75% of the property's remaining economic life, whichever is less
Up to 35 years
83.3% for market-rate properties, 85% for affordable properties, 87% for rental assistance properties
1.17x for market-rate properties, 1.15x for affordable properties
Rates for Other HUD Loans
Maybe a HUD 223(f) isn't right for you. If you're developing a new property, for example, HUD's 221(d)(4) loan could be an ideal solution.
If you're looking for more information about other HUD multifamily financing options, take a look at the wide variety of options available to you. HUD offers many loans for many different purposes.