221(d)4 loan

[David Munson]

I am a current lead service technician for a luxury living community. I want to educate myself on everything 221(d)4 loans for the future. I am determined to be successful in owning one myself. If there is anyone that might already have experience and already has success in the area. Some information to start would be great. I love what I do and really want to climb higher.

[Tom Meade]

Hi David-

FHA 221(d)(4) loans are for either new construction or substantial rehab of multifamily properties - defined as 5 or more units. Due to the cost and complexity of the application process, you don't usually see loans less than $1 million, and even at a million it's a relatively expensive option.

FHA 223(f) loans are for refinancing or acquisition of existing multifamily and are a little less costly but same basic thresholds apply.

Do a search for those terms and you'll find some lender websites with basic loan program info, and HUD probably publishes some fact sheets or FAQs as well.

Let me know if I can answer any specific questions for you.

All the best,
Tom