The length of time it takes to get approved for an interest-only fixed rate loan depends on the loan program you are applying for. For example, with the HUD 221(d)(4) and HUD 232 loan programs, the loan approval process typically takes between 45 and 60 days. With the Freddie Mac Optigo Small Balance Loan program, the loan approval process typically takes between 30 and 45 days.
To learn more about the loan approval process for HUD multifamily construction loans, fill out the form below and a HUD lending expert will get in touch.