HUD Multifamily Education
Understand the questions that typically shape an early HUD 221(d)(4) conversation for a new multifamily development or substantial rehabilitation project.
HUD describes Section 221(d)(4) as FHA mortgage insurance intended to facilitate qualifying new construction or substantial rehabilitation of multifamily rental or cooperative housing. A complete development conversation usually evaluates the site, market support, sponsorship team, project design, sources and uses, and the path through an approved lender and HUD review.
Read HUD’s description of multifamily programsPlanning lens
New construction or substantial rehabilitation
Qualifying multifamily rental or cooperative housing
Market, site, design, borrower capacity, and financing feasibility
This page is intended for general educational purposes. Program eligibility, underwriting, investment decisions, tax matters, legal requirements, and financing terms depend on specific facts and should be reviewed with appropriate HUD-approved lenders and qualified legal, tax, and financial professionals.
Explore the resource library or share a high-level project context to begin an appropriate conversation with the Prime Meridian team.