Answer first
In brief
Florida has 598 active FHA-insured multifamily and healthcare loans with $10.2 billion of principal balance, according to HUD’s October 2026 active mortgage file. The balance-weighted note rate is 4.22%, and the largest program is 223(f) purchase or refinance (apartments) with 35.5% of loans.
Compiled by Bravo Capital, a HUD-approved MAP and LEAN lender, from the HUD public data files listed under Data source and method.
Key figures
- 598 active FHA-insured loans with $10.2 billion of principal balance in Florida.
- Balance-weighted note rate of 4.22%; 57.0% of loans are below 4.00%.
- Largest program: 223(f) purchase or refinance (apartments) with 35.5% of loans.
- 18.2% of loans are on properties HUD flags as Section 8.
Program mix
| Program (section of the National Housing Act) | Loans | Share | Balance |
|---|---|---|---|
| 223(f) purchase or refinance (apartments) | 212 | 35.5% | $3.8B |
| Section 232/223(f) healthcare purchase or refinance | 182 | 30.4% | $2.4B |
| 221(d)(4) new construction or substantial rehab | 98 | 16.4% | $2.7B |
| 223(a)(7) refinance of an existing HUD loan (apartments) | 44 | 7.4% | $460.8M |
| Section 232/223(a)(7) healthcare refinance | 28 | 4.7% | $268.2M |
| 542(b) and 542(c) risk sharing (HFA and QPE) | 13 | 2.2% | $171.6M |
| 241(a) supplemental loans (apartments) | 7 | 1.2% | $70.6M |
| Other and legacy sections (213, 220, 231, 221(d)(3)) | 6 | 1.0% | $224.9M |
| Section 232 new construction or substantial rehab | 5 | 0.8% | $65.4M |
| Section 241(a)/232 supplemental loans | 3 | 0.5% | $7.3M |
Deeper cuts for this state: Section 232 healthcare loans in Florida; 223(f) loans in Florida; 221(d)(4) loans in Florida.
Interest rate distribution
| Note rate | Loans | Share of loans | Balance |
|---|---|---|---|
| Under 3.00% | 155 | 25.9% | $2.6B |
| 3.00% to 3.99% | 186 | 31.1% | $2.9B |
| 4.00% to 4.99% | 67 | 11.2% | $1.1B |
| 5.00% to 5.99% | 136 | 22.7% | $2.7B |
| 6.00% and above | 54 | 9.0% | $1.0B |
| Initial endorsement | Loans | Weighted note rate |
|---|---|---|
| Before 2010 | 31 | 3.87% |
| 2010 to 2014 | 101 | 3.30% |
| 2015 to 2019 | 145 | 3.57% |
| 2020 to 2022 | 145 | 2.90% |
| 2023 to 2026 | 176 | 5.80% |
Maturity profile
| Maturity year | Loans | Share of loans | Balance |
|---|---|---|---|
| 2026 to 2030 | 3 | 0.5% | $3.9M |
| 2031 to 2035 | 11 | 1.8% | $18.4M |
| 2036 to 2045 | 70 | 11.7% | $437.0M |
| 2046 to 2055 | 193 | 32.3% | $2.3B |
| 2056 and later | 321 | 53.7% | $7.5B |
Where the loans are
| Metro area (CBSA) | Loans in state |
|---|---|
| Miami-Fort Lauderdale-West Palm Beach, FL | 148 |
| Orlando-Kissimmee-Sanford, FL | 75 |
| Tampa-St. Petersburg-Clearwater, FL | 73 |
| Jacksonville, FL | 51 |
| North Port-Bradenton-Sarasota, FL | 33 |
| Palm Bay-Melbourne-Titusville, FL | 21 |
| Lakeland-Winter Haven, FL | 20 |
| Gainesville, FL | 19 |
| City | Loans |
|---|---|
| Miami | 43 |
| Orlando | 36 |
| Jacksonville | 31 |
| Tampa | 19 |
| Gainesville | 15 |
| Bradenton | 13 |
Holders and active lenders
| Holder of record (HUD file) | Loans | Share | Balance |
|---|---|---|---|
| Greystone Funding Company LLC | 86 | 14.4% | $1.9B |
| Berkadia Commercial Mortgage LLC | 78 | 13.0% | $968.1M |
| Lument Real Estate Capital, LLC | 53 | 8.9% | $515.3M |
| Walker & Dunlop LLC | 34 | 5.7% | $723.4M |
| Capital Funding LLC | 33 | 5.5% | $281.8M |
| First Housing Dev Corp. of Fl | 31 | 5.2% | $304.3M |
| Lender at initial endorsement | Loans |
|---|---|
| Greystone Funding Company LLC | 19 |
| Dwight Capital LLC | 12 |
| Berkadia Commercial Mortgage LLC | 11 |
| Lument Real Estate Capital, LLC | 9 |
| Walker & Dunlop LLC | 9 |
| JLL Real Estate Capital, LLC | 8 |
43 different holders of record appear in Florida.
Recent endorsement activity
| Fiscal year | Loans | Mortgage amount | Units |
|---|---|---|---|
| FY2022 | 43 | $1.1B | 8,430 |
| FY2023 | 32 | $532.4M | 5,114 |
| FY2024 | 15 | $378.1M | 2,429 |
| FY2025 | 21 | $579.1M | 4,032 |
| FY2026 | 24 | $1.0B | 5,082 |
Section 8 and affordability overlap
109 of Florida’s active insured loans (18.2%) are on properties HUD flags as Section 8, and 109 (18.2%) are on properties with any active HUD rental assistance contract. HUD’s mortgage file marks 119 loans (19.9%) as low-income housing tax credit properties and 55 as tax-exempt bond financed.
What stands out in Florida
- 29.4% of active loans in Florida were endorsed in 2023 or later (17.6% for the national portfolio), so a larger share of the book carries post-2022 coupons.
- 18.2% of Florida’s insured loans are on properties HUD flags as Section 8, versus 30.4% for the national portfolio.
- Section 232 healthcare loans make up 36.5% of active loans in Florida, compared with 25.7% for the national portfolio.
- Risk-sharing loans made with state housing finance agencies make up 2.2% of active loans in Florida, compared with 8.8% for the national portfolio.
- 223(a)(7) refinances make up 7.4% of active loans in Florida, compared with 13.7% for the national portfolio.
The bridge-to-HUD angle in Florida
HUD’s production database shows 135 apartment loans in Florida reaching initial endorsement from FY2022 through FY2026 ($3.6 billion). FY2026 produced 24, up from 15 in FY2024. 82 of them were 223(f) purchase or refinance loans, each of which either funded an acquisition or replaced other debt such as a bank, CMBS, construction or bridge loan.
Because 57% of the existing HUD loans here carry rates below 4.00%, few current HUD borrowers in Florida have a rate reason to refinance. New HUD volume depends mostly on properties that come to HUD from other debt, which is where a bridge loan sized to a HUD exit fits.
54 loans in Florida carry note rates of 6.00% or higher. For those borrowers the streamlined option is a 223(a)(7) refinance when permanent rates allow; Bravo’s 223(a)(7) guide covers eligibility and process.
Healthcare is a large part of the market: 36% of active loans in Florida are Section 232. Operator transitions and turnaround periods are the usual reasons a skilled nursing or assisted living facility uses a bridge loan before a Section 232 refinance.
221(d)(4) construction loans are 16% of the book, so a pipeline of recently completed properties exists. Owners that financed construction conventionally often use a short bridge through lease-up and then refinance with HUD 223(f); see lease-up to HUD 223(f).
Bravo Capital HUD closings in Florida
- Wyn 5, Miami, FL: HUD 223(f), $4.6 million, closed September 2026
These are part of Bravo’s record of 26 HUD firm commitments received since April 2022, all closed, totaling $526.0 million. The method is on the HUD Closing Scorecard.
For a transaction-specific view, Bravo Capital reviews bridge-to-HUD and HUD 223(f) requests through its loan inquiry.
More HUD data for Florida
Data source and method
Data source: HUD Insured Multifamily Mortgages (active), file FHA-BF90-RM-A, as of the October 2026 release (loans endorsed through September 29, 2026); HUD FHA Multifamily Firm Commitments and Endorsements Database (FY2001 to Q4 FY2026, data run October 8, 2026); HUD Insured Multifamily Properties, HUD Open Data (updated October 6, 2026) for metro area and Section 8 flags. Aggregates computed by Bravo Capital; no owner or contact information is used.
Balances are HUD’s reported amortized principal balance. Interest rates are note rates as reported by HUD (mortgage insurance premium not included), and the average shown is weighted by balance. Metro areas use HUD’s Core Based Statistical Area assignment for each property. “Holder” is the holder of record in HUD’s file, which is often the servicer or Ginnie Mae issuer rather than the original lender. Initial endorsement counts come from HUD’s multifamily production database, which covers apartment programs and does not include Section 232 healthcare loans.
Common questions
Frequently asked questions
How many HUD multifamily loans are active in Florida?
HUD’s active insured mortgage file lists 598 FHA-insured multifamily and healthcare loans in Florida with $10.2 billion of amortized principal balance, covering 95,283 units or beds, as of the October 2026 release.
What interest rates do HUD loans in Florida carry?
The balance-weighted note rate is 4.22%. The most common band is 3.00% to 3.99% (31.1% of loans), and 9.0% of loans carry rates of 6.00% or higher. Rates exclude the mortgage insurance premium.
Who holds the most HUD loans in Florida?
Greystone Funding Company LLC is holder of record on 86 loans (14.4%) in HUD’s file. The holder of record is often the servicer or Ginnie Mae issuer, which can differ from the lender that originated the loan.
How much HUD debt in Florida matures soon?
5 loans (0.8%) mature by the end of 2031. Most HUD loans are fully amortizing over 35 to 40 years, so maturities are spread thinly and refinancing is usually driven by rates, cash-out needs or a sale rather than a maturity date.
Created by Bravo Capital, a HUD-approved MAP and LEAN lender, and expert-reviewed by the Bravo Capital HUD Underwriting Team. Figures are computed from HUD public data files listed above. Last updated . This page is educational and is not a credit decision or commitment to lend.