Seeking advice on permanent financing Multifamily family affordable

[Charley C.]

Hello, I am an conventional apartment builder/developer but the new interest rate models have put a damper on new projects. I know FHA has low interest rate permanent financing for affordable housing. Not for vouchers but where the occupants have to be under a certain income bracket. I should be able to comply with that but really I just don't know lenders that are into that kind of thing.

I got several questions. The first one, I would rather not use the FHA of any sort to do the construction, is that possible? or do I have to fit the FHA mold during construction?

What are the fixed rates for affordable housing (over 5 mill) ? (could borrow more if needed)

What are the income brackets for Montgomery or may be even Walker county for example?

Any pointers are greatly appreciated 

[Ian Stuart]

How about Freddie Mac / Fannie Mae affordable housing financing programs? Standard program is generally is 5-30 year term, partial-full term IO, 1.20x DCR, 30-year amortization (loan sizing), non-recourse (with carveouts), priced in the low-mid 100's over treasuries (low 5% coupons). Property needs to be restricted by a LURA along other requirements, but might be worth the look. Full disclosure - our shop is the #1 Freddie Mac Optigo, #2 Fannie Mae DUS, and #3 HUD/FHA multifamily lender in the nation.