8.9.3 Section 223(a)(7) Projects
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. Most transactions are processed with a lower interest rate and re-amortized either within the remaining term or with an extension of up to 12 years. Exceptions are detailed in Chapter 18. Extended amortizations may reduce risk to the Department by lowering debt service requirements so long as the physical condition of the property supports the extended term of the mortgage. In every case, the loan term cannot exceed 75% of the remaining useful life of the property.
B. Amortization starts on the first day of the second month following the date of the Initial/Final Endorsement of the mortgage.
MAP Guide, March 2021 Go to beginning of Chapter 8
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Chapter 8 Mortgage Credit 8.10 Commitment Processing 220, 221(d), 231, 241(a)
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