The list of reasons to consider working with HUD and Centennial Mortgage, Inc. on your next project is growing. High-touch, industry experts you want on your side when securing this desirable long-term financing solution in today’s market.
- Lack of other available capital. Banks are significantly curtailing their lending. In many cases, lending at lower leverage. Many banks aren’t lending to new customers, only to those who they have prior relationships with,
- Certainty of close. HUD lending parameters haven’t changed, and they’re consistent nationally. Fannie/Freddie have certain markets they like and those they don’t want to lend it, have reduced their LTV ratios, and other sources (CMBS, banks, life cos) have exited the market or severely cut back.
- Higher leverage, lowest rates, longest term & amortization. With cap rates starting to creep up, and the cost of capital significantly higher than it was a year ago, HUD may be the only available product to make deals pencil, on both refinances and new construction.
Consider a HUD Loan To discuss these, and other benefits, of using HUD lending on your next development project, give us a call today.