3.3 Section 221(d)(4)–New Construction and Substantial Rehabilitation

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. Section 221(d)(4) insures mortgages for the new construction or substantial rehabilitation of rental housing. In addition to the general requirements in Section 3.1 and Section 3.2, the requirements in this section apply to the Section 221(d)(4) program.

B. Maximum Loan Ratios and DSCR. The loan ratios and percentages shown in the subsections below control the loan amount and are the mortgage criteria detailed on the form HUD-92264-A, Supplement to Project Analysis. The lowest mortgage criterion controls the loan amount.

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▸Contents — HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

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