The Hudson Report (“THR”) is a bi-weekly summary powered by Hudson Realty Capital.
Rate Indications*
*For current rates, please call your Hudson Realty Capital originator.
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Word Around Town
HUD Multifamily Project-Based Rental Assistance Programs Remain Operational. HUD has confirmed with the Office of Management and Budget (OMB) that rental assistance payments for all Multifamily project-based rental assistance programs will continue despite the recent federal pause on grants and loans. HUD's Office of Multifamily Housing Programs will maintain its financial commitments to property owners and tenants involved in theseprograms.
For HUD 221(d)(4) loans, eligible properties include subsidized, affordable, or market rate multifamily properties. Commercial space is limited to 25% of net rentable area and 15% of underwritten effective gross income (up to 30% of underwritten EGI permitted in Urban Renewal Opportunity Zones).
Hudson Highlights
Hudson Wants to Draw Attention to New Multifamily Changes for 223(f) and 221(d)(4) Loan Programs in Debt Service Coverage Ratios (DSCR) and Loan to Value/Loan to Cost Ratios and New Middle Income Housing Option for 221(d)(4) Loans.
These changes will enhance financing flexibility for lenders and developers aiming to develop new affordable multifamily rental properties or refinance existing ones under the 221(d)(4) and 223(f) programs
Multifamily Changes in Debt Service Coverage Ratios (DSCR) and Loan to Value/Loan to Cost Ratios (LTV/LTC) Mortgagee Letter.
Creating a Middle Income Housing Options for 221(d)(4) Mortgagee Letter.
Our Commitment
Hudson Realty Capital strives to combine a responsive, hands-on approach to investment with a unique ability to quickly adapt to shifts in the market. While we have a new and refreshed look, our top-level client service remains the same.
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The Hudson Report and the news, information and observations stated herein are provided for informational and discussion purposes only and are not, and may not be relied on in any manner, as commitment or as legal, tax or investment advice. Hudson believes that the information provided herein is reliable but does not guarantee its accuracy or completeness and material aspects of information herein may change without notice. The interest rate indications set forth in The Hudson Report are estimates based on current market conditions. Final rates will be set at rate lock or at closing. The Hudson Report is not an offer or commitment to lend, and any such offer shall only be set forth in a signed, written commitment letter from Hudson. All transactions are contingent on satisfactory due diligence review and approval including evaluation of 3rd party reports, borrower credit, loan collateral and property, borrower and guarantor financials. Hudson is an Equal Opportunity Lender.
Hudson Realty Capital LLC, 570 Lexington Avenue, 22nd Floor, New York, NY
