HUD 202 refinancing: Preserving multifamily properties

 

Office of Housing and Urban Development (HUD) Housing Notice 2012-08, additional guidance in frequently asked questions format, and updates to the Section 8 renewal guide have created significant opportunities to HUD 202 sponsors, allowing:

  • Sponsors to sell their 202 properties and keep the sales proceeds
  • Owners to use low income housing tax credits for rehabilitation
  • Owners to further reduce existing interest rates

With interest rates at historic lows, owners/sponsors should think strategically about when to refinance and how much rehabilitation to perform on their property as well as weigh benefits of refinancing with additional use restrictions. For owners looking to upgrade the condition of their facility, the combination of current market conditions and the advantages outlined in the recent HUD guidance may make this a good time to refinance.

During this webinar, Baker Tilly and Lancaster Pollard Mortgage Company help those who own, manage, or purchase properties originally financed with the HUD 202 direct loan program understand the options available to maximize your long-term marketability. Learn about:

  • Pertinent regulatory changes to the Section 202 direct loan program and how those changes effect available financing
  • Financing sources available, including Low-Income Housing Tax Credit (LIHTC) and Federal Housing Administration (FHA) loan programs
  • How HUD is looking at sale proceeds and about the ability to transfer ownership under the new guidelines

View the presentation slides >