GERSHMAN INVESTMENT
FHA Lending Activity
525
Total Deals
$7.3B
Total Volume
4
FY2026 Deals
$87.1M
FY2026 Volume
Source: HUD FHA Multifamily Production Reports
FHA Deal Activity
476
FHA Endorsements
$13.3M
Avg Deal Size
147
Avg Units
39
States
Individual FHA-insured initial endorsements, FY2001–FY2026
Top 10 Markets: MO (182) · KS (36) · IA (28) · NE (28) · TX (22) · IN (15) · MN (14) · IL (14) · AZ (14) · MI (12)
Programs: 223(f) Purchase/Refi (232) · New Const/Rehab (123) · 223(a)(7) Refi (117) · 241(a) Improvements (4)
13% LIHTC · 5% Tax-Exempt Bonds
Source: HUD FHA Multifamily Production Reports
View all 476 FHA deals →Recent FHA Deals
FHA Portfolio
338
Active Loans
$4.7B
Outstanding
5.74%
Recent Avg Rate
36 yr
Avg Term
Rates and balances on FHA-insured loans currently held in portfolio, as of February 2026
Recent FHA Rate Comps
Full Portfolio: 3.38% avg rate · range 2.12%–6.7%
2 loans ($562K) maturing by 2031
Top States: MO (85) · KS (30) · NE (28) · IA (27) · TX (22)
Source: HUD Insured Multifamily Mortgages
Deal History
Annual volume by program source.
Sources: HUD
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