847-903-7578
Scott Kendall Owner
Kendall Realty Advisors LLC
Monday, April 18, 2016
Friday, April 15, 2016
HUD is Making Things Easier for FHA Borrowers
Highlights of new Guidelines
Higher Loan to values for affordable Housing
Davis Bacon rules eliminates for most Affordable Housing Developments
The required minimum reserve balance that lenders must keep on their books has been lowered to reduce pressure on borrowers and encourage loans to be given in support of affordable housing development.
Allowing unit repairs using 223(f) up to $15,000 per unit and removing 15% of loan limit
After April 1, 2016 HUD paves the way to reduce the MIP (by more than 25%!) if an energy audit is performed on a property, and then energy improvements are implemented to achieve an Energy Star Benchmarking Score of 75 or greater and Green Certification
MAP Guide
Higher Loan to values for affordable Housing
Davis Bacon rules eliminates for most Affordable Housing Developments
The required minimum reserve balance that lenders must keep on their books has been lowered to reduce pressure on borrowers and encourage loans to be given in support of affordable housing development.
Allowing unit repairs using 223(f) up to $15,000 per unit and removing 15% of loan limit
After April 1, 2016 HUD paves the way to reduce the MIP (by more than 25%!) if an energy audit is performed on a property, and then energy improvements are implemented to achieve an Energy Star Benchmarking Score of 75 or greater and Green Certification
MAP Guide
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jackson2 039 [Flickr]16 years ago
Commercial Mortgage - Apartment - Healthcare
