ACQUISITION AND REFINANCE TO A HUD 221(d)(4) CONSTRUCTION LOAN
Leverage X-Caliber’s expertise and creative structuring for a land acquisition/refinance to a HUD 221(d)(4) construction loan. We offer fast execution, flexible prepayment options, and a seamless transition to HUD construction financing.
Undeveloped or underutilized urban or suburban parcels zoned for multifamily residential use, with access to amenities and infrastructure
$3MM – $20MM
Fixed rate, deal dependent
For-profit or not-for-profit domestic single-asset entity
Typically, “warm-body” guarantor required, but exceptions considered
Full recourse
First mortgage and first-priority interest in all leases, rents, income, and profits, and all other personal property, accounts, escrows, and reserves
Up to 60% LTC/LTV
Up to 24 months with extension options available; typically interest only for term of mortgage
Debt service, predevelopment costs, tax, and insurance escrows are typically required
1.0% – 2.0% of original loan balance
Negotiable
Negotiable
Appraisal, Phase 1, Market Study are required
Sponsor must successfully obtain an encouragement letter from a HUD concept meeting, prior to closing
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