Articles

Seven Facts About FHA Multifamily Loans

The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), is one of the largest mortgage insurers in the world. The agency insures mortgages on affordable housing, multifamily properties, single-family homes, and healthcare facilities. Since 1934,  FHA has financed over 50,000 multifamily mortgages nationwide. Whether you’re interested in acquiring, refinancing, or rehabilitating an affordable housing property, FHA multifamily loans are a financing route you need to know about.

FHA 232/223(f)

FHA® 232/223(f): Healthcare Refinance, Acquisition or Mod Rehab  

Articles

Top States for Population Growth

Despite a national slowdown, population growth remained concentrated in a small group of states in 2025, where strong net domestic migration inflows, economic opportunity, and in some cases elevated birth rates drove the annual increases. Overall, 14 states had an annual population growth rate above 0.75%, while 12 states had less than 0.1%, according to a Chandan Economics analysis of the U.S. Census Bureau’s 2024 American Community Survey.

Articles

Arbor’s Build-to-Rent Financing: 10 Reasons to Choose a Premier Lender

Build-to-rent (BTR), a compelling solution to the U.S. housing market’s evolving needs, is experiencing record growth. BTR accounted for 8% of all single-family rental (SFR) construction starts in the 12 months that ended in the first quarter of 2024, according to Arbor’s Single-Family Rental Investment Trends Report Q2 2024. As the need for quality rental units remains high, borrowers have much to gain from partnering with an experienced lender who specializes in build-to-rent financing.

Articles

Nearly All Metros Post Positive Rent Gains

National rent growth in the single-family rental (SFR) sector remained strong and consistent in 2025 as market-level pricing momentum was broad-based and robust, according to an analysis of newly released data from the Zillow Observed Rent Index. Year-end annual rent gains averaged 2.9%, down from 4.1% in 2024, marking the most modest increase since 2015. But even as the intensity of SFR rent growth abated last year, its reach was extensive, with 98 of the 100 largest markets posting year-over-year gains.

Current Reports

Small Multifamily Investment Trends Report Q1 2026

Arbor Realty Trust’s Small Multifamily Investment Trends Report Q1 2026, developed in partnership with Chandan Economics, shows that lending activity in the sector increased for the second consecutive year amid a sharp increase in refinancings. Even with persistently high interest rates and rigorous underwriting standards, small multifamily entered the first quarter on steady footing.

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$34M FHA 223(f) Loan Refinancing with
Green Savings

252

Units

TX

Houston

2020

Year Built

Situation

A real estate investment firm was exploring a full acquisition of a newly constructed apartment community in Houston, TX. Without an existing asset and with limited operating history in this region, the borrower sought expert guidance to develop a strategy to acquire the property. With interest rates rising, the borrower wanted to lock in a highly competitive rate to refinance a rental community that had swelled to over 90% capacity.

Arbor Action

Arbor worked with the U.S. Department of Housing and Urban Development (HUD) to secure an FHA 223(f) loan refinance with green savings, which provides long-term, fixed-rate financing for refinancings, acquisitions, or moderate renovations. Arbor negotiated an underwriting change while interest rates were increasing, allowing the borrower to secure a Bridge to HUD loan to help improve net operating income and increase loan proceeds. In addition, Arbor connected the borrower with HUD’s green program, which reduces existing loan interest rates.

Result

The borrower secured a Bridge to HUD loan that funded the acquisition of a beautiful and sprawling Houston apartment community with wide-ranging amenities. They achieved a better-than-anticipated rate for their HUD execution. The apartment community, constructed to meet high energy efficiency and sustainability standards, was then entered into HUD’s green program, reducing mortgage insurance premiums enabling the borrower to achieve optimal savings.