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FHA

Bellwether Real Estate Capital LLC, is merging with Enterprise Community Investment, Inc.'s Multifamily Mortgage Finance business. The new company, Bellwether Enterprise Real Estate Capital, will offer greater geographic reach and product offerings.

FHA mortgage insurance provides one of the most attractive long-term, non-recourse, permanent financing vehicles for projects that qualify from a financial and programmatic perspective. FHA will insure mortgages to finance the acquisition, new construction, substantial rehabilitation and refinance of multifamily and healthcare projects nationwide. Loan commitments can be funded on a taxable basis, can be swapped for GNMA Mortgage-Backed Securities or can be used as credit enhancement for tax-exempt bond issues. Projects insured by FHA can be "market" rate (i.e., not subsidized), affordable housing or low income housing (i.e., subsidized). HUD does not require low income, tenancy set-asides nor does it impose rent limits on insured projects, though the use of tax-exempt bonds or low income housing tax credits can trigger these requirements.

The following highlights the most popular FHA Mortgage Insurance Programs, which provide the most practical and attractive financing mechanisms for each of the following:

• Cleveland
• Columbus
• Cincinnati
• Louisville
• Lexington
• Pittsburgh
• South Bend
• Atlanta