The Federal Housing Administration (FHA) is a Government Act which contains various rules and regulations regarding real estate. The Section 221 of this Act has a loan program which is considered the best in today's market. Multifamily apartment loans investors get a hell lot of benefits from such a program. The FHA Section 221 is actually a Federal mortgage insured program. The Government is not funding the loan but insuring it against default. The Section 21(d) gives the provision of mortgage insurance to HUD approved lenders. This is basically for the assistance of the development for any apartments or multifamily rental properties. The multifamily apartment loans program ensures for long – term mortgages. The mortgages may range up to 40 years and they can be financed by Government National Mortgage Association (GNMA) Mortgage Backed Securities. Both the non – profit and for – profit borrowers gets the availability of such a loan program. Section 221(d)(3) gives the declaration
"Price is what you pay. Value is what you get"