Has anyone ever used the FHA 223F program to buy a Mulitfamily building? What are the positives and negatives of this program? What should I look out for? Where can I get more info on this program? … thanks all
I haven’t personally used the program, but I have heard positive feedback about the program. I think there are some stiff pre-payment penalties.
To get more info, go to HUD’s website and start there:
http://www.hud.gov/offices/hsg/mfh/progdesc/purchrefi223f.cfm
Regards,
Patti Porter
Thanks Patti… I think this will be a good way for me to finance an Apt. Complex… Gotta Go Big… 
GOOD
85% LTV
Amortizations greater than 30 years
competitive rates
BAD
Slow process (2-3 months on average)