FHA-Insured mortgages can be used to finance the construction or substantial rehabilitation of multifamily and cooperative housing containing five or more units. Additionally, these mortgage loans can be used for the purchase or refinancing of existing multifamily rental housing. Seniors housing includes housing for residents aged 62 and older without the need for additional services.
The FHA mortgage insurance programs currently offer one of the few low-cost, higher leverage, non-recourse loan products available in today’s difficult and dislocated credit environment. These multifamily programs provide an excellent and reliable source for long-term, fully amortizing, fixed-rate financing.
The HUD/FHA insured financing programs are very similar to conventional financing. The main difference is that you are applying to the U.S. Department of Housing and Urban Development (HUD) for Federal Housing Administration (FHA) mortgage insurance. With the government insuring your loan, Cosmopolitan as lender is able to supply our clients with dramatically better financing terms than a conventional loan. In order to qualify for FHA insurance, an application to HUD must be submitted through an FHA approved mortgagee in order obtain a commitment. Cosmopolitan is a nationally approved HUD/FHA MAP (Multifamily Accelerated Processing) lender.
The most common FHA Multifamily Programs include:
Request a Consultation
$8,762,895,000 and counting
Below are some of Cosmopolitan Capital Funding, LLC’s recent Transactions.