HUD, or the U.S. Department of Housing and Urban Development, was set up by President Lyndon Johnson in 1965 as part of his "Great Society" program. It is part of the Executive Cabinet. HUD’s purpose is to develop and execute housing policies, specifically concerning affordability and sustainability. To do this, HUD offers a variety of mortgage insurance products for both singe-family homes, multifamily properties, and healthcare facilities.
These include FHA 203(b) loans and FHA 203(k) loans for single-family properties, HUD 221(d)(4) and HUD 223(f) loans for multifamily properties, HUD 232 loans for senior healthcare facilities, and the HUD 223(a)(7) multifamily refinancing loan program, which is the main focus of this website.