We can provide credit enhancement for tax-exempt bonds for existing deals using FHA 223(f), Fannie Mae and Freddie Mac affordable multifamily housing programs.
The debt service coverage is 1.17 to 1.25 and the bonds are fixed or variable depending on program.
The FHA 221(d)(4) program can be used for new construction and Freddie Mac is offering a forward commitment for bank take outs.
The credit enhancement programs are available for tax credit transaction with 4% LIHTC and for non-profit 501(c) borrowers.
Kendall Realty Advisors also can enhance bonds for Healthcare using FHA 232 and for Hospitals using FHA 242 mortgage insurance programs.
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