HUD Lets Build-to-Rent Communities Qualify for FHA Multifamily Financing
WASHINGTON — The U.S. Department of Housing and Urban Development (HUD) announced that its Federal Housing Administration (FHA) will allow Build to Rent communities to qualify for FHA-insured financing under two multifamily mortgage insurance programs, effective immediately.
"America needs more affordable housing," HUD Secretary Scott Turner said in the announcement, describing the change as removing barriers to development and expanding rental options. Joe Gormley, currently overseeing the FHA and Office of Housing, said expanding housing supply is essential to improving affordability.
Build to Rent communities are multifamily rental properties made up of single-family homes, duplexes or triplexes, including both site-built and manufactured homes. Under the update, they will be treated on the same terms as traditional multifamily rental developments, under FHA's Section 221(d)(4) program for new construction and Section 223(f) program for acquisition or refinancing of recently developed communities, subject to the requirements in HUD's Mortgagee Letter.
HUD said the change aligns with Executive Order 14376, aimed at stopping Wall Street from competing with Main Street homebuyers.
(Source: HUD)
Source: HUD
Published by GSM · USA (original Chinese edition)
Photo: 图片：美国住房与城市发展部（公共领域），经 Wikimedia Commons/DPLA，图为新建住宅施工
