FHA Multifamily Programs

Rental Housing for New Construction and Substantial Rehabilitation - Section 221(d)(4)
Rental Housing for Refinancing of Existing Properties - Section 207/223(f)

FHA multifamily mortgage insurance, in conjunction with HUD’s assisted housing programs, has provided multifamily lenders and owners with the ability and the incentives to create tens of thousands of rental projects which otherwise may not have existed.

Thousands of American residents who live in apartment projects, nursing homes, hospitals, and group homes benefit indirectly from FHA multifamily mortgage insurance. They benefit directly from HUD's assisted housing programs.

FHA has two primary multifamily programs:

• New construction or substantial rehabilitation Section 221(d)(4).
• Refinance or purchase of existing multifamily rental housing Section 223(f).

FHA multifamily housing also:

• Administers grants for special needs and supportive services that relate to rental housing.
• Administers Neighborhood Networks, computer centers in subsidized housing to promote self-sufficiency.
• Participates as a major partner in the Rental Housing Integrity Improvement Project, a presidential initiative.

FHA multifamily handles the following:

• Oversight of regulated property ownership and management.
• Routine mortgage servicing, default servicing, acquisition and disposition of loans (mortgage notes) and properties.
• Management of HUD-owned properties.