Blog - Bedford Lending

HUD 223(f) Refinance "Three Year Rule" change.

06 Mar 2020 Compliance / Regulatory

Effective today, HUD allows the refinance of newly built or substantially rehabilitated multifamily properties through the 223(f) loan program. Essentially any project constructed or rehabbed with a conventional source can use HUD as a permanent takeout after 3 months of stabilization. Previously borrowers had to wait three years. Please see attached.