HUD’s Multifamily Programs are adaptive and provide a variety of options to address the unique transactional needs of borrowers, including prepayment option flexibility. From traditional refinancing to highly structured transactions involving public/private partnerships, mixed-use, leaseholds, 1031 exchanges, new construction, substantial rehabilitation, adaptive reuse, LIHTC or elderly housing, the HUD Multifamily Programs can provide a highly leveraged, non-recourse, long-term financing solution. The high leverage, coupled with full assumability, provides additional opportunities for clients with shorter term hold horizons.