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Why Rockport Mortgage?
FHA MULTIFAMILY SPECIALISTS SINCE 1992
Experience
Since 2001, $14 billion in FHA-insured financing across the United States, including 60% of all New England FHA multifamily units.
Commitment
A singular focus on FHA-insured loan programs, and relationships that outlast any single transaction.
Insight
Guidance that puts FHA's programmatic advantages to work in creative, long-term financing structures.
Park Hill Apartments
$394.9M Section 223(f) | Staten Island, NY
Parkview Towers
$140M Sec. 223(f) | West New York, NJ
George W. Collins Apartments
$37.1M Section 221(d)(4) | Chicago, IL
Symphony Plaza
$76M Section 223(f) | Boston, MA
One focus for more than three decades
OUR STORY
Founded in Massachusetts in 1992, Rockport has financed FHA-insured properties across the country. Our team includes former HUD professionals from Production, Asset Management, Appraisal, Cost Analysis and Legal, giving us a deep understanding of the agency’s requirements. The applications we submit are thorough, well documented and ready for review, and our long-standing relationships with leading third-party providers mean efficient underwriting and greater certainty of execution.
We work with developers, owners, sponsors and nonprofit housing organizations to finance affordable, market-rate and senior housing, as well as healthcare and assisted living facilities, through refinancing, preservation, rehabilitation and new construction.
ROCKPORT BY THE NUMBERS
1992
Year founded
$14B
FHA loan volume since 2001
107,368
FHA multifamily units financed since 2001
60%
of all New England FHA multifamily units
CLIENT PERSPECTIVES
What Our Clients Say
“Rockport is unmatched in blending the best technical skills with diplomacy, insight and intelligence.”
THE BOSTON LAND COMPANY
“2LifeCommunities is fortunate to be able to take advantage of your technical mastery of the affordable housing field, and your creative approach to problem solving on our behalf.”
2LIFECOMMUNITIES
“RMC’s solid understanding of HUD’s older-assisted inventory, FHA’s current loan and preservation programs, and ability to effectively work with HUD staff clearly sets them apart from other FHA lenders.”
THE CARABETTA COMPANIES
“The knowledge, expertise and professionalism among the team at Rockport Mortgage Corporation was evident. This was our first venture with RMC and we were impressed with their level of attention and guidance provided throughout the process.”
NEWTON COMMUNITY DEVELOPMENT FOUNDATION
Benefits of FHA Financing
Available for affordable and market rate housing, as well as healthcare and assisted living facilities, FHA-insured financing offers multifamily developers, owners and sponsors advantages that other loan programs typically don't have, including:
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Lowest available, long-term fixed interest rates;
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Flexibility in underwriting and rate locks can allow for more creative finance structures;
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Longer loan terms - standard 35- to 40-years;
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Higher loan-to-value (LTV) ratios (87-90% for affordable housing);
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Lower debt service coverage minimums (1.11 to 1.15 for affordable housing);
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FHA-insured mortgages are non-recourse.
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Construction financing converts to a permanent loan without performance requirements;
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Less costly and more favorable pre-payment terms;
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FHA-insured mortgages are assumable;
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Standardized MIP rate of 25 basis points for all FHA loan programs;
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FHA mortgage insurance can provide a AAA credit enhancement for bond issuances.
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