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My name is James am the Managing Director of FINANCE OUTSOURCE SERVICE LLC located in Nevada USA and my lending interest rate is 6 percent. You can email me the amount you seek as loan and the repayment duration if you are interested in my service.
Contact The Financial Mall, LLC a platform of the most diverse lenders and investors, we are affiliated with lenders, banks, credit unions, pension fund managers. It is typical 25% down plus closing costs, however, we can structure a deal through sources to reduce the down payment substantially. Visit our website: The Financial Mall
Multifamily Construction or Substantial Rehab FHA-HUD Loans
Multifamily Construction or Substantial Rehab Loans
FHA/HUD Section 221 (D)(4)
2.75% to 4.5% Fixed
Eligible properties: Market rate, low to moderate income and subsidized multifamily properties
Commercial space limited to 25% of net rentable area & 15% of gross income (30% underwritten EGI in urban renewal areas under Section 220)
Term & amortization: 2 year + 2 months interest only construction loan then 40 years fully amortizing
$3 to 100 Million+
No upfront fees. We are paid when your loan is funded at closing.
High LTC: Subsidized: 90% LTC with 1.11X debt service coverage; Affordable: 87% LTC with 1.15X debt service coverage; Market Rate: 85% LTC with 1.18X debt service coverage; Subsidized and Affordable: 80% LTC with 1.25 debt service coverage
Minimimum Scope of Work:
0.5% rate lock deposit refunded at closing
Low fees and points
Prepayment and assumption negotiable
Strong borrower/sponsor liquidity, net worth, financials and experience required
Single asset, special purpose entity, either for profit or non-profit required
Eligible properties must: provide continuous protective oversight, offer 3 meals per day, state licensed, non-resident care not to exceed 20% of gross area & gross income, may include up to 25% non-licensed independent living units and commercial space up to 10% of gross floor area & income
Construction or rehab defined as 15% of post-rehabilitated value or replacement of 2+ major building components
Davis Bacon wages required by HUD and determined by Department of Labor
Escrows: (1) prior to construction, reserves for interest, taxes, insurance, working capital (4% of loan) and initial operating deficit; balances released to borrower 6 months after 6 consecutive months of break-even operations; (2) Post construction: taxes, insurance and mortgage insurance premium escrowed monthly and a capital needs reserve maintained with monthly deposits in accordance with HUD guidelines
Mortgage insurance premium: 0.77% payable at closing and annually until principal repaid (0.45% for tax credit deals)
HUD application fee: 0.30% of estimated loan amount due with submission of final application
Third party reports: appraisal, market study, environmental & review of final construction and architectural docs by HUD approved reviewer
Timeline: typically 12 months from due dilligence to closing
I am a representative of this company with many loan products like this one.If you're interested in this loan program please e-mail me and I will send you within 24 hours requesting your name
Your company's name and to agree that closing 1% the amount financed through the company I am representing and sending you this information.
My name as Rickey and my e-mail address firstname.lastname@example.org. Thank you and god bless you
Try this one. Email or text me if you are interested in proceeding.
Low Rate Program
For credit worthy investors who want a better alternative to bank financing…