An increase in labor and material costs, as well as rising interest rates, have added significant stress in the production of affordable housing nationwide. As the margin for Low Income Housing Tax Credit (LIHTC) deals becomes increasingly tight, a creative approach to financing such transactions is essential. (more…)
With today’s many technological advances, modular construction is increasing in popularity for multifamily new construction projects. We recently secured a HUD-insured loan for an apartment community constructed using modular units, Carrino Plaza Apartments, in Newark, New Jersey. (more…)
Congress authorized the Rental Assistance Demonstration (RAD) program to address the daunting backlog of capital repairs in the nation’s public housing stock and to stem the loss of affordable units. PHAs can now use RAD Component I to access private debt and equity to fund repairs and stabilize properties. In March, Congress expanded eligibility requirements under the RAD program and raised the unit cap.
Not too long ago, if you were to bring up modular construction, thoughts immediately went to a low quality, cheap, below standard product. But today the perception of modular construction is changing. (more…)
Are you considering a refinance of your multifamily loan?
If so, you’ve come to the right place! We have taken a look at two of our most popular multifamily refinance options: an interest rate reduction and FHA 223(a)(7). Each product has specific guidelines, but a simple comparison is below. For a more in depth analysis of these programs, click here.
Love Funding is proud to be your FHA finance expert. Please don’t hesitate to contact a member of our team to see if these programs could work for you. (more…)
Do you have a HUD loan with a high interest rate? If so, you might consider taking advantage of the current market rates and refinancing your multifamily loan. While weighing this decision, it’s helpful to work with a knowledgeable team of mortgage experts and trusted financial advisors who can guide you in your decision-making process. (more…)