The FHA / HUD 232/223(a)7 loan program provides an expedited refinance option for existing FHA-insured loans in order to reduce a project's debt service burden by lowering the interest rate and extending the maturity date. Qualifying projects stand to continue benefiting from the credit enhancement afforded by the FHA / HUD loan insurance program with the same attractive features of the existing FHA-insured loan but with lower debt service payments.  Key characteristics of this 232/223(a)7 loan program include:

• Fully amortizing;
• Longer term / amortization;
• Low interest rate, fixed for the term of the loan;
• Higher leverage; and
• Non-recourse.

Submit the information below to see how a 232/223(a)7 loan can benefit your project.