Finance Solutions built around your needs
First Housing mobilizes capital to finance multifamily housing in the state of Florida and beyond. Our elite group of real estate professionals has the experience necessary to evaluate any financing proposal, and recommend a structure and plan to make it happen. We are proud of the many firsts we’ve accomplished and continue to utilize new products as they enter the market. However, the true measure of our success is the satisfaction of our many repeat customers.
HUD/FHA: First Housing entered the FHA-insured loan origination business in 1996, following the implementation of FASTTRACK loan processing by HUD’s Jacksonville office. In the first two years, our professionals originated in excess of $58 million in FHA insured loans, making First Housing the largest single producer for the Jacksonville HUD office. We broadened our multifamily business activities by becoming an approved Multifamily Accelerated Processing (MAP) lender for HUD in 2000 and expanding our lending activity to include market rate loans to owners of multifamily and assisted living facilities.
As remarkable as our volume may be, even more noteworthy is our diversity of program utilization. For example, the FHA 223(f) and 221(d)(4) insurance programs – backed by GNMA securities – are utilized to provide ‘AAA’ credit enhancement for tax exempt bonds, financing new apartment communities and refinancing existing communities requiring substitute credit enhancement.
For more information contact:
Scott Moreman, Senior Vice President – HUD Programs
Ed Busansky, Senior Vice President – Credit Underwriting & Loan
Affordable Housing Lending Pool
In the early 1990’s, First Housing and eleven of its stockholders cooperated to form a $100 million lending pool to finance multifamily housing for low- and moderate-income residents. By the end of 2011, the Pool had financed the development and rehabilitation of 7,949 affordable rental units in the state of Florida.
The following financial institutions, all of them First Housing stockholders, currently participate in the lending pool:
American Momentum Bank
The Bank of Tampa
Fifth Third Bank
JPMorgan Chase Bank
The Northern Trust Company
Popular Community Bank
For more information contact: Ed Busansky (813) 283-1043