FHA/HUD Section 232 Program Highlights
- Construction Advance Financing: A 232 closes and interest rate locks at construction closing, requiring interest only payments until the project stabilizes, and then converts to standard principal and interest amortization.
- Non-Recourse Financing: The 232 program is non-recourse to the borrower from construction through operations, except for standard bad-boy carve-outs. For more information on FHA’s non-recourse program please click here.
- Low Interest Rates: Because an FHA232 loan is insured by the government and securitized through Ginnie Mae, we are able to offer some of the best rates in the business. For a rate quote please contact one of our Production Officers.
- Fully Amortizing 40-Year Term: The 232 program offers 40-year term / 40-year amortization, starting at permission to occupy. Act now to take advantage of historically low interest rates to lock in a 40-year term and never worry about refinance risk.