Details.
FHA-insured, long-term, fixed-rate financing for acquisition, refinancing, or rehabilitation of eligible multifamily projects with 4% or 9% low income housing tax credits. Underwriting and approval are expedited through the Multifamily Accelerated Processing Program. Loans are fully amortizing for up to 35 years and non-recourse except for standard industry exceptions. Pilot applications are prioritized, with HUD approval estimated 45 to 60 days after application submission.