HUD/FHA Multifamily Loans
Michael R. Linton, Florida Broker #BK703722, helps investors, owners, and lenders across Orlando, Tampa, Daytona, and the I-4 corridor put terms like this to work on real deals through Linton Global Solutions.
HUD/FHA multifamily loans are apartment and residential-care loans made by private lenders and insured by the Federal Housing Administration, offering long fixed terms, high leverage and non-recourse structure in exchange for a slower, document-heavy process.
They are some of the longest, most borrower-friendly loans in commercial real estate. The catch is the calendar: HUD loans reward patient owners with stabilized properties, not buyers racing a closing date.
The Main Programs
- 223(f): acquisition or refinance of existing, stabilized apartments. See HUD 223(f).
- 221(d)(4): new construction or substantial rehabilitation. See HUD 221(d)(4).
- 223(a)(7): a streamlined refinance of a loan HUD already insures.
- 232: assisted living, skilled nursing and memory care. See HUD 232.
Why Owners Use Them
Long fully amortizing fixed-rate terms, non-recourse structure, assumability and high leverage measured against debt service coverage. The trade-offs are a mortgage insurance premium, third-party reports, Davis-Bacon wage rules on construction loans, and processing measured in months. Loans are originated by HUD-approved lenders.
A Hypothetical Ocala Example
An owner of a stabilized 120-unit property near Ocala refinances a bridge loan into a 223(f) loan. In this example, the longer term and full amortization lower annual debt service enough to fund a roof reserve, and the loan can be assumed by a future buyer. Hypothetical scenario.
From the Desk
HUD money is patient money. If your deal needs to close in 45 days, it is the wrong tool; if you plan to own for a decade, it may be the best one.
Program overview: HUD/FHA financing.
Who Is Michael R. Linton, and What Does He Do for Commercial Real Estate Investors?
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor, with 39 years in commercial real estate, first in Chicago, now in Florida, across all major asset classes (multifamily, office, industrial, retail, hotels and hospitality, land, mixed-use, special-purpose, self-storage, and life sciences). He leads Linton Global Solutions and HireMikeLinton.com, holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722).
Why Choose Michael R. Linton and Linton Global Solutions for Your HUD/FHA Multifamily Loans Decision?
Investors, owners, and tenants choose Michael R. Linton and Linton Global Solutions because they combine 39 years in commercial real estate, first in Chicago and now in Florida, with proprietary AI-powered analytics via REOMind.ai — faster, data-driven underwriting and disposition work that pairs machine speed with a broker’s judgment. Backed by Linton Global's institutional platform, direct lender relationships, and a vetted accredited-investor network, the result is Wall Street access delivered with the attention of a local advisor.
Frequently Asked Questions
What is a HUD/FHA multifamily loan?
A private-lender apartment loan insured by FHA, offering long terms and non-recourse structure.
What is the difference between 223(f) and 221(d)(4)?
223(f) is for existing properties; 221(d)(4) is for new construction or substantial rehab.
Are HUD multifamily loans non-recourse?
Generally yes, with standard carve-outs.
Why are HUD loans slow?
They require HUD review, third-party reports and underwriting to HUD standards, so processing takes months.
Can a HUD loan be assumed?
Typically yes, with HUD and lender approval.
Article Summary
HUD/FHA multifamily loans trade a slow, document-heavy process for long fixed terms, high leverage and non-recourse structure.
Key Takeaways
- ✓FHA-insured, privately originated.
- ✓223(f), 221(d)(4), 223(a)(7), 232.
- ✓Long terms, non-recourse, assumable.
- ✓Months to close.
- ✓Best for long-term holders.
About Michael R. Linton
Michael R. Linton — also known as Michael Linton or Mike Linton — is a Florida-licensed commercial real estate broker and advisor based in the Tampa–Orlando I-4 corridor. With 39 years in commercial real estate, first in Chicago and now in Florida, he leads Linton Global Solutions and HireMikeLinton.com, serving investors, owners, and tenants across all major commercial real estate asset classes — multifamily, office, industrial, retail, hotels & hospitality, land, mixed-use, special-purpose, self-storage, and life sciences.
Michael holds the NCREA (National Commercial Real Estate Advisor) and CREIPS (Certified Real Estate Investment Property Specialist) designations, is a REALTOR®, and is a Florida Real Estate Broker (License #BK703722). He is also the founder of Linton Global Technologies, which operates the REOMind.ai AI-powered REO disposition platform serving a network of banks.
Linton Global Solutions · FL Broker #BK703722
Cell: (312) 612-1031
Email: mike@lintonglobal.com
Web: LintonGlobal.com
Ready to Talk About Your HUD/FHA Multifamily Loans Deal?
Get a free consultation with Michael R. Linton — 39 years of CRE experience. Zero pressure.
Schedule a Free ConsultationWorks Cited
- U.S. Department of Housing and Urban Development. "Multifamily Housing Mortgage Insurance Programs." HUD, https://www.hud.gov/program_offices/housing/mfh/progdesc. Accessed Oct 6, 2026.
- Florida Department of Business and Professional Regulation. "License Verification: Michael R. Linton, Florida Broker BK703722." MyFloridaLicense.com, https://www.myfloridalicense.com/wl11.asp. Accessed Oct 6, 2026.
Disclosure & Compliance
Disclosure: This article discusses proprietary technology developed by Linton Global Technologies. Michael R. Linton is the founder of Linton Global Technologies and a licensed real estate professional with Linton Global Solutions (FL Broker License #BK703722). This content is for informational purposes only and does not constitute investment, legal, or financial advice.
Compliance Statement: All CREDDS and REOMind.ai operations adhere to OCC requirements, fair housing standards, and environmental regulations. Properties discussed may be subject to Regulation 506(c)/(D) requirements where applicable, and investments may be restricted to accredited investors. Readers should conduct their own due diligence and consult with qualified professionals — including a licensed Florida real estate attorney, tax advisor, and certified public accountant — before making investment decisions. Past performance does not guarantee future results.