Opening of Ace Hardwood Store. Loan provided by Commercial Loan Direct.
Section 221 insures loans for the construction and rehabilitation of multifamily rental properties as well as cooperative housing for moderate income families, the handicapped, and the elderly. Single Room Occupancy can also be insured under this program.
Section 221(d)(4) assists private industry in the rehabilitation or construction of cooperative and rental housing project for moderate-income and displaced families by making capital more readily available. The program allows for long-term mortgages that can be financed with Government National Mortgage Association (GNMA) Mortgage Backed Securities.
Insured mortgages may be used to finance rental or cooperative housing with 5 or more units.
Eligible mortgagors include public, profit-motivated sponsors, limited distribution, nonprofit cooperatives, builder-seller, investor-sponsor, and general mortgagors.
What Clients Say About Us
Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever
- Nirav Patel
If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.
- Vincent Arias
We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them
- Rita Pisarski
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