Updated almost 3 years ago on . Most recent reply
Looking for advice on HUD financing
Hi BP! I'm looking for someone who has gone through the process of obtaining HUD financing and what their experience was like. I've heard many positives and a few negatives, but primarily from individuals who want us to use their services to acquire the loan. We are looking to refi one of our deals, and given the timing of the market we are looking at ALL options. HUD sticks out to us because it would help to be able to get a loan with a lower DSCR requirement and a loan that amortizes over 35 years instead of 30.
Now I understand the process can be long, and that the prepay can be astronomical, but I wanted to hear from those who have actually gone through the process. Please let me know your experience.