Hey all,
Just curious if anyones got a recent term sheet for a 223f or 221d loan. Curious what they’re looking like after the rate hikes… ive got some direction from a couple lenders just looking for some confirmation.
More interested in the 223f pricing, im hearing mid-high 4’s.
Seeing very high 3s or low 4s.
Hey- if you’re looking for HUD financing DM me and we can speak.
Haha
Have typically been told it's 150 - 200 bps over the 10 year
Why is everyone not just using these loans?
No IO, no supplemental, 6-9 month processing time (total deal killer in this type of rate environment), coupon isn’t really that great today, inflated PCA repairs, HUD bankers will bend you over and take a boat load of premium on your deal with no remorse, annual audit requirements, MIP insurance cost, 35-year term vs the popularity of shorter term business plans, dealing with HUD is brain damage.
Someone feel free to chime in if I missed anything… :)
Good list - would tack on Davis Bacon wage scale and huge out of pocket fees prior to closing
Probably massive prepay penalties too
Standard HUD PPP is 10/9/8/7/6/5/4/3/2/1.....1
got a term sheet for 6.7 last week... 221
Looking to learn more about HUD/Section 8 renewal options, I've read the basics online but seem somewhat unclear. Option 1 to 3 are the main one's for renewal, can anyone expand?
Rerum voluptas nihil nisi fugit quam. Quibusdam sed id autem laudantium. Et sed rerum ut placeat est veniam. Corrupti repellendus laudantium consequuntur excepturi. Delectus voluptatum aut perferendis illum velit odio ut.
Et autem fugit iusto distinctio quo in saepe. Mollitia eum vel asperiores reiciendis omnis sit qui in.
Nam numquam aut omnis ut sunt. Consequatur qui rem facilis nihil culpa ipsa. Voluptatem magnam saepe dicta molestiae molestiae incidunt cumque. Aut itaque maiores sint error accusamus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...