Loan Products

HUD Section 223(f) – Refinance/Acquisition

Ascenda Funding offers HUD financing for refinance of existing loans and acquisition of new properties through the 223(f) loan product.

HUD Section 223(f) is a low-cost, long term, fully assumable, non-recourse loan. Both affordable and market-rate properties are eligible for the 223(f) loan product.”

LOAN HIGHLIGHTS:

  • 35-YEAR TERM
  • LOW FIXED INTEREST RATE
  • LOAN AMOUNT UP TO 85% LTV RATIO / 80% LTV FOR CASH OUT REFINANCE
  • NON-RECOURSE
  • FULLY ASSUMABLE
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HUD Section 223(a)(7) – Refinance Existing HUD Loan

Ascenda Funding offers HUD financing for the refinance of existing HUD-insured mortgages through the 223(a)(7) loan product. HUD Section 223(a)(7) is a low-cost, long term, fully assumable, non-recourse loan.

The 223(a)(7) can reduce the interest rate, increase the amortization schedule and subsequently improve property cash flow for properties already financed by a HUD insured loan. Both affordable and market-rate properties are eligible for the 221(d)(4) loan product.

LOAN HIGHLIGHTS:

  • UP TO 40 YEAR TERM
  • LOW FIXED INTEREST RATE
  • LOAN AMOUNT UP ORIGINAL BALANCE OF EXISTING LOAN
  • NON-RECOURSE
  • FULLY ASSUMABLE
Download Term Sheet

HUD Section 221 (d)(4) – Construction & Rehabilitation

Ascenda Funding offers HUD financing for construction and substantial rehabilitation of multifamily properties through the 221(d)(4) loan product. HUD Section 221(d)(4) is a low-cost, high leverage, fully assumable, non-recourse construction loan and a 40-year fixed rate permanent loan.

Both affordable and market-rate properties are eligible for the 221(d)(4) loan product.

LOAN HIGHLIGHTS:

  • UP TO 40 YEAR TERM
  • LOW FIXED INTEREST RATE
  • INTEREST ONLY DURING CONSTRUCTION / 40-YEAR AMORTIZING PERMANENT LOAN
  • LOAN AMOUNT UP TO 85% LTC RATIO / 87% LTC FOR AFFORDABLE PROJECTS
  • NON-RECOURSE
  • FULLY ASSUMABLE
Download Term Sheet

Bridge Loans

Ascenda Funding offers short-term bridge loans for the acquisition and development of select multifamily properties. We offer flexible terms and can work with you to move quickly and provide financing for projects with time-sensitive deadlines.

We provide bridge loans for both affordable and market-rate properties.

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Fannie Mae & Freddie Mac

Ascenda Funding offers agency financing through Fannie Mae & Freddie Mac for the acquisition and refinance of multifamily properties throughout the United States. Our agency loans offer excellent terms and competitive pricing and are available for both affordable and market rate properties

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Non-Recourse Balance Sheet Multifamily Construction Financing

Ascenda Funding offers non-recourse financing for the ground-up construction of multifamily properties. Our balance sheet construction loan program is high leverage, with leverage going up to 75%, and in some cases 80% LTC. The construction loan program is interest-only for the duration of the loan term, with flexible term lengths and options to extend. Rates vary based on leverage, sponsor strength, current market conditions, etc.

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Balance Sheet Non-Recourse Ground Up Build-to-Rent (BTR) Construction Loans

Ascenda Funding offers non-recourse financing for the ground-up construction of BTR properties around the country. Our construction loan program is specifically tailored towards the growing BTR asset class. The program is non-recourse, except for a completion guarantee, an environmental guarantee, interest reserves, and typical bad-boy carve-outs. Leverage typically goes up to 75%, and in some cases 80% LTC, with flexible term lengths and options to extend.

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