Columbia National Real Estate Finance is a leading Multifamily Accelerated Processing (MAP) lender providing financing for both the Market Rate and Affordable Housing Industries. We assist in arranging federally-insured debt and credit enhancement for apartment projects, nursing homes and assisted living facilities. These mortgages provide funding for acquisition, new construction, refinancing and substantial rehabilitation.
Columbia National offers fixed-rate non-recourse loans for new construction or substantial rehabilitation pursuant to Section 221(d) of the National Housing Act and for acquisition or refinance of existing apartments pursuant to Section 223(f). We finance long-term care facilities under Section 232; supplemental renovations under Section 241 and interest rate reductions under Section 223(a).
Columbia National’s staff of loan officers are experts in the various disciplines of governmental real estate finance, equipped to provide you with a variety of services focused on pursuing your best options in securing financing. We help you prepare your tax credit applications and process your loan with Federal and state finance agencies, and we provide you with a full understanding of how the process works, every step of the way.
At Columbia National we never lose sight of the single most important aspect of our loan production—you, our client.
FHA LENDING PROGRAMS
Columbia National is a HUD-approved lender administering HUD’s FHA mortgage insurance programs, providing long-term, non-recourse fixed-rate financing. As an approved FHA Multifamily Accelerated Processing (MAP) lender, Columbia National provides access to the variety of FHA loan programs on an expedited basis.
FHA 221(d) provides mortgage insurance for new construction or substantial rehabilitation of rental or cooperative multifamily housing. Construction and permanent financing is available with loan to value up to 90% for a term of 40 years. FHA 223(f) offers mortgage insurance for the refinance, acquisition or moderate renovation of existing apartments and housing cooperatives. It offers up to 85% loan to value and a 40-year loan term.
FHA 232 offers mortgage insurance for new construction or substantial rehabilitation of assisted living and skilled nursing facilities. Construction and permanent financing is available at up to 90% loan to value over a 40-year term.
FHA 232/223(f) offers mortgage insurance for the refinance, acquisition or moderate rehabilitation of existing residential care facilities. Construction and permanent financing is available at up to 90% loan to value over a 35-year term.
FHA 223(f) for Section 202 Projects provides FHA insured long-term, fixed-rate financing for refinance, acquisition or moderate renovation of existing Section 202 projects nationwide with a loan to value up to 90% for a term of up to 35 years.
FREDDIE MAC MULTIFAMILY LOANS
Columbia National is part of Freddie Mac’s Program Plus network of highly skilled seller/servicers. Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders in support of homeownership and rental housing. Freddie Mac purchases single-family and multifamily mortgages from lenders and either retains them in its portfolio or packages them into securities that are sold to investors.
Freddie Mac's flexible product line delivers the multifamily financing options borrowers value. Freddie Mac supports the acquisition, refinance, rehabilitation and construction of apartment communities across America through the following products and services:
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Conventional
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