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Multifamily capabilities.
RECC provides recourse and
non-recourse loans for
multifamily properties (5+
units). Our lending limits for
multifamily loans range from
$750,000 to $50 million. In these
challenging times, teaming up
with the right lender with
multifamily experience and
expertise is essential. We have a
proven track record of navigating
through the rough waters to meet
- and often exceed - borrower
expectations.
Program Advantages
 Purchase,
refinance & 1031's
LTV's
range from 75% Standard, 85%-90%
FHA/HUD
Fixed
rate terms up to 30/35 years
Non-recourse
for qualified borrowers
Graduated
step-down prepays or Yield
Maintenance
This program is designed for the
acquisition or refinance of
existing stabilized multifamily
properties. The interest rate may
be fixed for 5, 7, 10 or 15 years.
The loan amount may be up to 75%
of the purchase price (or
outstanding debt for refi's). For
refi's and cashout refi's the max
LTV is 75%.
Standard Multifamily At-A-Glance
FHA Section 223(f)
Multifamily
This program is designed for the
acquisition or refinance of
multifamily, subsidized housing,
and moderate income housing
properties. The interest rate is
fixed for the entire loan term.
The loan amount may be up to 85%
of the purchase price (or
outstanding debt for refi's) plus
transaction costs and proposed
repairs. For cashout refi the max
LTV is 80%.
FHA 223(f) At-A-Glance
FHA Section 221(d)(4)
Multifamily
This program is designed for
construction or substantial
rehabilitation of multifamily
properties. Substantial
Rehabilitation is defined as a
project that includes
rehabilitation costs equal to 15%
or more of post-rehabilitation
appraised value or replacement of
two or more major building
components.
FHA 221(d)(4) At-A-Glance
FHA Section 232/223(f)
Healthcare
This program is designed for
construction or substantial
rehabilitation of healthcare
related facilities.
a) Facility must provide
continuous oversight of residents
and offer three meals per day.
b) Facility must be licensed by
the state in which it is located.
c) No more than 25% of units in a
board and care home can be
independent living units (units
with complete kitchen and bath
facilities).
d) Nonresident day care may not
exceed 20% of gross floor area and
20% of gross income.
FHA 232/223(f) Healthcare
At-A-Glance
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