FHA® 223(f): REFINANCE, ACQUISITION, OR MODERATE RENOVATION Arbor provides FHA-insured, long-term, fixed-rate financing for refinance, acquisition or moderate renovation of multifamily projects nationwide. Arbor uses the single-stage Multifamily Accelerated Processing (MAP) Program to expedite underwriting and approval. See the Terms Loan Term & Amortization Up to 35 years, not to exceed 75% of the remaining economic life (Fully Amortizing). Minimum DSCR 1.176x for Market Rate properties, or LIHTC restricted whose rents are < 10% below market; 1.15x for LIHTC restricted properties with rents at least 10% below market; 1.11x for properties having at least 90% rental assistance contracts. Maximum Loan to Value/Acquisition Cost 85% for Market Rate properties, or LIHTC restricted whose rents are < 10% below market; 87% for LIHTC restricted properties with rents at least 10% below market; 90% for projects with 90% or greater Rental Assistance. Fixed Rate Yes Eligible Properties Existing Multifamily projects at least three years old. Detached structures and row houses eligible. Market rate, low-to-moderate income and subsidized multifamily properties. Eligible Borrower Single Asset Entity (for profit or non-profit). Occupancy Requirement Average 85% occupancy Read the full article…
As of midyear 2019, the U.S. multifamily market has been off to a strong start. Here are the top markets for rent growth for the first half of the year.
Freddie Mac Multifamily’s 2019 Midyear Outlook expects solid fundamentals, low interest rates and the housing shortage to contribute to a strong 2019.
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Here’s a quick look at the U.S. multifamily market finance and investment benchmarks for Q2 2019.
Amenity-rich large multifamily is increasingly geared toward high-skill jobs within the urban core, while the more dispersed and affordable small multifamily cater to a wider mix of workers.
In the third installment of this new video series from Arbor and Chandan Economics, we discuss the performance and outlook for the U.S. multifamily market for the rest of 2019.