3.10.2 Underwriting Ratios for Large Loans
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 following DSCR, Loan to Value Ratio (LTVR) and Loan to Cost Ratio (LTCR) underwriting standards shall be applied as loan sizes increase:
- For New Construction/Sub Rehab under Sections 220, 221(d)(4), 231, 241(a) on loans at or above $75M:
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Chapter 3 Programs 3.10 Large Loan Risk Mitigation
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| Property Is: | Debt Service Coverage | Loan To Cost Limits |
|---|---|---|
| Limits | ||
| Market Rate & LIHTC with no | 1.30 | 75% |
| rent advantage | ||
| Affordable | 1.25 | 80% |
| => 90% Rent Assisted | 1.15 | 87% |
Section 241(a) loans are limited by statue to 90% (see.). Section 3.6
For refinancing under Section 223(f) on loans at or above $75M:
| Debt Service Coverage | Loan to Value | |
|---|---|---|
| Property Is: | Limits | (without/ |
| Market Rate & LIHTC with no | 1.30 | 75%/70% |
| rent advantage | ||
| Affordable | 1.25 | 80%/70% |
| => 90% Rent Assisted | 1.15 | 87%/80% |
- Note: Loan amount with cash out is determined at Criterion 10 of the form HUD-92264-A.
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