Existing Multifamily Rental Housing; (207/223f)
This program is designed for investors, developers, builders, and others that meet HUD requirements.
Under the National Housing Act section 207/223f was developed for the purchase or refinancing of a existing apartment, or cooperative housing project and or for the purchasing and conversion of a existing rental project to cooperative housing. HUD may also insure mortgages on a existing multifamily project that does not need substantial rehabilitation. But the project must have 5 or more units and the rehabilitation must have been completed for 3 or more years ago.