---
title: "What Is HUD Section 221(d)(4)? | Calibre Glossary"
description: "HUD Section 221(d)(4) is an FHA mortgage insurance program for the new construction or substantial rehabilitation of multifamily rental or cooperative."
url: https://calibre.multisites.ai/glossary/hud-section-221d4
publisher: Calibre Commercial Inspections
phone: "+1-208-305-6245"
email: Schedule@CalibreCBI.com
---

Financing and lending

# HUD Section 221(d)(4)

HUD Section 221(d)(4) is an FHA mortgage insurance program for the new construction or substantial rehabilitation of multifamily rental or cooperative housing with five or more units.

## Why it matters

The program insures lenders against loss on mortgage defaults and allows long loan terms. Physical reports and capital planning matter most in substantial rehabilitation projects. Lenders working under MAP submit the required exhibits to HUD.

Source: [hud.gov](https://www.hud.gov/hud-partners/multifamily-programs)

[Related Calibre serviceCapital Needs Assessments](https://calibre.multisites.ai/cre-services/capital-needs-assessment)

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