January 28, 2016 – The Federal Housing Administration (FHA) has announced a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments. Lower rates are expected to stimulate production and rehabilitation of affordable rental housing and help increase the amount of quality rental housing across the country. The press release from HUD Secretary Castro states, “The rate reductions will take effect on April 1, 2016, and will directly impact FHA’s Multifamily Housing Programs and properties housing low- and moderate-income families and/or developments installing energy-efficient systems or building within federal energy guidelines.”
This announcement is a positive change for affordable housing programs. To read the press release announcement and details on FHA’s new Multifamily Insurance Rates, click here. If you have any questions, please contact one our loan originators at 317-569-7420 or at firstname.lastname@example.org.