Multifamily Rental Housing Section 223(f) Acquisition or Refinance

Summary: Insured mortgages may be used to finance acquisition or refinance of multifamily rental properties that are 3-years old or older. Currently there is a waiver in place for projects that were built under 3-years ago and that are seeking permanent financing. Eligible Borrowers: Single Asset Entity Terms: Up to 35 Years Loan Benefits: Non Recourse Fully assumable Rates: Fixed for the length of the mortgage Processing: Eligible for Multifamily Accelerated Processing (MAP). Mortgage Loan Limitations: Refinance The maximum insured mortgage will be the lesser of: DSC - 1:20 83% loan to value (80% if cash out) 100% existing debt plus loan costs, including repairs FHAs per unit mortgage limits Acquisition The maximum insured mortgage will be the lesser of: DSC 1:20 83% of the loan to value 83% of acquisition costs including loan costs and repairs. FHAs per unit mortgage limits Secondary financing: Permitted; repayment is subject to availability of surplus cash, special conditions apply. Prepayment Terms: Typically 2-Year lockout with 8.00% penalty in year 3 and declining by 1.00% per year from years 4 through 10. For more information contact: Sok H Cordell, Senior Managing Director 503-640-5200 or toll free 1-877-257-0865 sok@ch-capital.com