HUD Eliminates Three-Year Rule on 223(f) Applications

Exciting news for value-add and new construction investors! On March 2, 2020, HUD announced the elimination of the three-year lock-out rule for applications to refinance or acquire existing properties under the Section 223(f) loan program.

This exciting change will open up opportunities for borrowers to refinance stabilized multifamily properties much sooner after construction completion and lease-up than previously available.

This primarily benefits those whose business model is to maximize leverage. Virtually all other loan programs – banks, Fannie Mae, Freddie Mac, […]