HUD / FHA Advantage
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Refinancing and Acquisition financing for Market Rate, Affordable Multifamily and Healthcare
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New Construction with Permanent Take-Out Financing Upon Completion of Construction
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Non Recourse
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Fully Amortized – No Balloon Payment
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Fully Assumable
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10 Year Step Down Prepayment Penalty
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Long Term Fixed Rate
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Up to 35 Year Term and Amortization (Refinance/Acquisition)
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Up to 40 year Term and Amortization (New Construction/Substantial Rehabilitation)
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Higher LTV or LTC
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85%-90% LTV (Refi / Acquisition)
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85%-90% LTC (New Construction/Substantial Rehab)
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Financing Options
Section 223(f)
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Refinancing or Acquisition of existing Apartments properties of any Class
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Average Processing Time: 4-6 Months
Section 221(d)(4)
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New Construction or Substantial Rehabilitation of apartments
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Provides fixed rate and fully amortized for 40 years that converts to permanent loan after construction is complete and includes the up to three years interest-only fixed rate during construction
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Average Processing Time: 9-12 Months
Section 232-223(f)
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Refinance or Acquisition of Residential care facilities including Skilled Care Nursing Homes, Intermediate Care, Assisted Living and Personal Care Facilities
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Average Processing Time: 6-9 Months
Section 220, 241(a), 242
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Secondary Specialed Multi Family and Healthcare Mortgages
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Average Processing Time:
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220: 9-12 Months
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241(a): 6 Months
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242: 9-12 Months
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Section 223(a)(7)
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Refinancing of existing FHA insured Multi Family Mortgages
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Average Processing Time: 4-6 Months
Section 232
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New Construction or Substantial Rehabilitation of Nursing Homes and Assisted Living projects
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Provides fixed rate and is fully amortized for 40 years that converts to permanent loan after construction is complete and includes the up to three years interest-only fixed rate during construction
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Average Processing Time: 9-12 Months
Section 232-223(a)(7)
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Refinance of Existing FHA Insured Mortgages Residential Care Facilities including Skilled Care Nursing Homes, Intermediate Care, Assisted Living and Personal Care Facilities
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Average Processing Time: 4-6 Months
The BWE Difference
EXPERTISE
BWE is an FHA, HUD MAP and Lean approved mortgage lender with an experienced division of the firm solely focused on HUD-insured financing. Our professionals have successfully closed in excess of $5 billion in loans over the past 34 years. We look at all projects on their merits – even very complex deals – and create a plan for a successful process with HUD.
EXPERIENCE
Our highly experienced staff of underwriters and project coordinators each have decades of experience underwriting and processing HUD loans. They understand government requirements and guidelines and are at the forefront of our industry. That expertise continues even after the loan closes with ongoing guidance and assistance with any questions – even years later. We are always happy to help.
EXECUTION
Throughout the HUD application and closing process you will be working with a team of professionals who are dedicated to your project. Detailed weekly status updates, development team coordination, and high-quality service to our clients is our hallmark. We also provide expert guidance to the team on application requirements, third party vendors, title and closing matters.
RESULTS
Our applications move more quickly through the HUD process because of our decades of experience, reputation and relationships. From the beginning of our work on a project we provide you with realistic expectations for processing and we eliminate any factor that wastes your time. Our HUD applications are consistently successful- and faster-due to our attention to detail and superior application processes. The results are that the BWE team achieves one of the highest HUD firm application to approval rate within the industry.

Our Team
HUD Refinance Loan Process
Pre-Engagement
Sizing
Engagement Letter
Kick-off Call
Prepare Firm Application
Collect Documents
Complete Underwriting
Sign and Complete HUD Forms
Order PCNA and Appraisal
HUD Review and Approval
Engage Legal Counsel for Closing
Begin Closing Process
Receive Firm Commitment from HUD
Closing
Rate-lock
Submit Closing Documentation
Close
HUD New Construction Loan Process
Pre-Engagement
Sizing
Paragon Agreement
Engagement letter
Kick-off call
HUD Pre-Application
Finalize plans and construction budget
Collect documents
Receive invitation to submit Firm Application
Closing
Rate-lock
Submit Closing documentation
Close
Prepare for Concept Meeting
Perform Market Analysis
Prepare Concept Package
HUD Concept Meeting
Prepare Firm Application
Collect documents
Complete underwriting
Sign and complete HUD forms
Prepare Firm Application
Prepare Pre-Application
Collect documents
Order Appraisal and Phase 1
Complete Underwriting
Prepare Pre-Application
HUD Review and Approval
Engage legal counsel for Closing
Begin Closing process
Receive Firm Commitment from HUD