Can HUD 223(a)(7) Loans Be Used to Refinance Any Mortgage?

Program Eligibility for the HUD 223a7 Loan Program

No, HUD’s 223(a)(7) refinance loan is used exclusively to refinance existing HUD-insured loans on multifamily and healthcare properties. It is reserved for those with existing loans like the 223(f), 221(d)(4), HUD 232 and other FHA-insured multifamily and healthcare loans. Unlike most other HUD multifamily loan programs, the HUD 223(a)(7) loan requires very little underwriting, only one third-party report (a PCNA, or project capital needs assessment), and can close in as little as 60 days.

To learn more about the HUD 223a7 refinance program, fill out the form below to speak to a HUD/FHA loan expert.