Interest Rate Reduction Loan Modification Program
Our HUD interest rate reduction program provides loan modifications for multifamily properties with existing FHA-insured debt.
Any property with existing HUD-insured loan.
Unchanged from existing mortgage, no term extension available.
Locked before closing and fixed for the duration of the term. (Subject to market conditions.)
Customizable, typically a step-down period, other variations possible, based on market conditions and borrower preferences.
- 1.05x DSC Ratio
- The annual Mortgage Insurance Premium (MIP) is unchanged from existing mortgage.
Property Capital Needs Assessment (PCNA) may be required.
Approximately 30 – 45 days for engagement, submission, FHA/HUD review, and closing.