Long-term, fixed-rate HUD financing for Ohio apartment buildings, from a HUD MAP lender based in New York.
Who makes HUD 223(f) loans for Ohio apartment buildings?
Bravo Capital is a HUD-approved MAP lender headquartered at 780 Third Avenue in New York that makes HUD 223(f) loans to buy or refinance apartment buildings in Ohio. It has closed HUD loans of $20.1 million and $18.6 million for apartments in Springdale, in the Cincinnati area.
A HUD 223(f) loan is an FHA-insured, fixed-rate, non-recourse mortgage for an existing apartment property, for up to 35 years and fully amortizing. Bravo also makes HUD 221(d)(4) construction loans and 223(a)(7) refinances, and Section 232 loans for senior care, as a MAP and LEAN lender.
35 yrs
Fixed rate, fully amortizing, non-recourse
87%
Maximum loan-to-value, market-rate (90% affordable)
100%
Bravo's HUD closing rate in 2025
What has Bravo financed in Ohio?
$20.1M
HUD loan for a townhome apartment community
Springdale, Ohio (Cincinnati area)
$18.6M
HUD loan for an apartment community
Springdale, Ohio (Cincinnati area)
$2.5B+
Financing closed by Bravo and its affiliates nationwide
Nationwide
Both Ohio loans are already listed on Bravo's Transactions page and its Lending in the Midwest page.
HUD 223(f) terms for Ohio apartments
- Use
- Buy or refinance a stabilized apartment property
- Term
- Up to 35 years, fixed, fully amortizing
- Leverage
- Up to 87% of value market-rate, 90% affordable or subsidized; 80% with cash-out
- Debt service coverage
- 1.15x market-rate, 1.11x affordable
- Recourse
- Non-recourse, standard carve-outs
- When you sell
- Fully assumable, subject to HUD approval
Who is an Ohio HUD loan right for?
01
Owners refinancing
Replace bank, bridge or CMBS debt on a stabilized building in Cincinnati, Columbus, Cleveland or anywhere in Ohio with a long fixed rate and no balloon.
02
Buyers
Finance the purchase of an existing apartment or townhome community, market-rate or affordable.
03
Builders
HUD 221(d)(4) covers new construction or substantial rehab, then stays in place as the permanent loan.
Ohio HUD loans: common questions
- Does Bravo Capital make HUD loans in Ohio?
- Yes. Bravo Capital, a HUD MAP lender in New York, has closed HUD loans for apartments in Springdale, near Cincinnati, and lends on apartment buildings across Ohio and the rest of the Midwest.
- How much can I borrow with a HUD 223(f) loan?
- Up to 87% of value for market-rate properties and 90% for affordable or subsidized properties, with a fixed rate for up to 35 years. Cash-out refinances are capped at 80% of value.
- Does Bravo make HUD 221(d)(4) construction loans in Ohio?
- Yes. HUD 221(d)(4) finances new construction or substantial rehab of apartments and then becomes the long-term loan, with a fixed rate for up to 40 years after construction.
- How long does a HUD 223(f) loan take?
- About six months from engagement to closing, roughly two months for each stage: firm application, HUD review to firm commitment, and closing.
More detail: HUD 223(f) guide · HUD 221(d)(4) guide · Lending in the Midwest · Does my property qualify?
Refinancing an Ohio apartment building?
Send the property's basics. A Bravo underwriter will tell you whether HUD 223(f) fits.
