With years of experience in the acquisition, construction, rehabilitation and refinance of market-rate multifamily housing communities, we lend our expertise to the development of creative financial structures providing highly favorable loan terms and proceeds for owners, developers and sponsors of apartment communities. We work with clients across the nation to fully understand their property, financial goals and needs, navigating them through often complicated processes, delivering both desired and measureable results. Our niche is in aligning our deep understanding of the multifamily housing market on both a national and regional level, with our unique experience working with and within the Department of Housing and Urban Development (HUD). We further enhance our capabilities through our exceptional team of MAP underwriters who are recognized throughout the industry for their proficiency in structuring and re-structuring complex funding programs.
Rockport specializes in the following market-rate multifamily, FHA-insured financing programs:
221(d)(4) – New Construction and Rehabilitation Financing
Providing a non-recourse construction loan that rolls into a 40-year, self-amortization loan. The construction loan is interest only and converts to a permanent loan without performance requirements (i.e.: debt service coverage requirements). The construction-to-permanent loan is rate locked with a fixed interest rate before construction commences. Profit motivated, nonprofit motivated and public owners are eligible.
223(f) – Refinance and Acquisition Financing
Providing non-recourse, assumable financing for the purchase or refinance of existing multifamily developments. In most cases the development must be at least three years old. The program is available to market-rate and affordable properties. Profit motivated, non-profit motivated and public owners are eligible.
223(a)(7) – Refinance of an existing HUD-insured loan
This expedited program allows borrowers with an existing FHA-insured mortgage to refinance to a lower interest rate. The program allows for limited term extensions and provides funding for repairs and additional deposits to replacement reserves. The program is available to market-rate and affordable properties
241 – Addition and Renovation Financing
Providing mortgage insurance for a supplemental loan for the purposes of improvement or additions to a multifamily project, a nursing home, an intermediate care facility or a group practice facility covered by an FHA-insured loan, without the need for refinancing the existing loan. Profit, nonprofit motivated and public owners are eligible.