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Sun West Mortgage Company, Inc.        
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FHA Multifamily
GNMA Issuer
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Licensed throughout the U.S. and Puerto Rico
Privately Held Mortgage Bank for Over 32 Years
Excellent Underwriting/Funding Turn Times
 

FHA Multifamily Lending

 
     
Sun West provides FHA mortgage insured financing for the construction, substantial rehabilitation, acquisition or refinancing of multifamilyhousing project. All FHA programs long-term, fixed-rate, fully amortizing loans, with low-cost financing, and in larger amounts that are non-recourse. With over 32 years of expertise, Sun West delivers a one-stop lending experience to its borrowers.
     
FEATURES:
  • Up to 95% LTC for Non-Profit.

  • Construction and Permanent Financing both in one loan.

  • Up to 90% LTC(New Construction/Substantial Rehabilitation)

  • Up to 85% LTV(Refinance and Acquisition) Cash-Out allowed up to 80% LTV.

  • 40 Year Term and Amortization(New Construction/Substantial Rehabilitation)

  • Non-Recourse(HUD takes a first mortgage lien) 35 Year Term and Amortization(Refinance and Acquisition)

  • Fast-track processing, Sun West is a HUD-approved Multifamily Accelerated Processing(MAP) Lender


  • AVAILABLE TO:
  • For-Profit, Non-Profit and Joint Ventures

  • New Construction/Substantial Rehabilitation projects must be approved by HUD prior to commencing work.

  • Properties eligible for refinance must be atleast 3 years old.

  •   MULTIFAMILY PROGRAMS:
  • Section 223(f) - Provides loans for the refinancing or acquisition of existing multifamily properties including HUD Section 202 projects.

  • Section 221(d)(4) - (Section 221(d)(3) for Non-Profits) Offers financing for the new construction, or substantial rehabilitation, of multifamily apartment projects.

  • Section 223(a)(7) - Provides refinancing for current FHA-insured loans on existing FHA-insured apartments, nursing homes, assisted living facilities, and personal care facilities.

  • Section 241(a) - Offers supplemental loans for the renovation or expansion of existing FHA-insured apartments, nursing homes, assisted living facilities and personal care facilities.

  • BASIC COSTS:
  • HUD Application Fee of $3.00 per $1,000

  • HUD Annual Mortgage Insurance Premium of 0.45% to 0.5%(1% in first year.)

  • HUD Inspection Fee subject to mortgage lending program.

  • NOTE: Certain restrictions may apply. Rates and prices are subject to change. Please refer to below links to view latest product matrices and seller guides :
    Wholesale and Hybrid correspondent
    Correspondent Channel
     
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