18.3.4 Mortgage Term
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
A. The term of a new mortgage insured pursuant to Section 223(a)(7) may be extended up to 12 years beyond the maturity date of the existing, originally insured mortgage (extension limited by statute). The term cannot be extended beyond the lesser of (a) 75% of the remaining useful life of the project or (b) the maximum term permitted in the Section of the Act under which the existing mortgage is insured. If the existing mortgage is the result of a previous refinancing through Section 223(a)(7), or the combined balance of two loans, the longest allowable maturity date of the new mortgage is 12 years beyond the maturity date of the mortgage originally insured under the FHA insurance program, but notwithstanding this allowance, the term may not exceed 75% of remaining useful life of the project.
B. Example of Allowable Term/Maturity Date Extensions for a Section 223(a)(7) Refinancing of a Mortgage Currently Insured Under Section 223(f).
MAP Guide, March 2021 Go to beginning of Chapter 18
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Chapter 18 Page 18-3
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Chapter 18 Section 223(a)(7) 18.3 Basic Program Requirements
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Loan Requirements Current loan program
Maximum permitted term under the applicable program
Assumed current loan amortization start date
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