HARPER CAPITAL PARTNERS, LLC

Agency

AgencyType

85Deals

$1.5BTotal Volume

Active 2025

FHA Lending Activity

Total Deals

$1.5B

Total Volume

FY2025 Deals

$111.4M

FY2025 Volume

Source: HUD FHA Multifamily Production Reports

FHA Deal Activity

FHA Endorsements

$15.8M

Avg Deal Size

142

Avg Units

States

Individual FHA-insured initial endorsements, FY2020–FY2026

Top 10 Markets: TX (14) · LA (12) · MN (4) · CT (4) · FL (3) · CA (3) · UT (2) · IA (2) · NC (2) · IL (2)

Programs: 223(f) Purchase/Refi (38) · 223(a)(7) Refi (17) · New Const/Rehab (2) · 241(a) Improvements (1)

17% LIHTC · 5% Tax-Exempt Bonds

Source: HUD FHA Multifamily Production Reports

View all 58 FHA deals →

Recent FHA Deals

Dec '25West Haven, UT223(f) Purchase/Refi

$26.0M

Oct '25CEDAR FALLS, IA223(f) Purchase/Refi

$12.1M

Sep '25Van Buren, NY223(f) Purchase/Refi

$9.4M

Apr '25ELIZABETH CITY, NC223(f) Purchase/Refi

$13.5M

Mar '25Luverne, MN223(f) Purchase/Refi

$5.4M

Active loans held →Maturity wall →Rate tracker →

FHA Portfolio

Active Loans

$1.0B

Outstanding

5.18%

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

DateLocationAmountUnitsProgramTermRate

Dec '25West Haven, UT$26.0M110223(f)35 yr4.25%

Oct '25Cedar Falls, IA$12.1M60223(f)35 yr5.55%

Sep '25Van Buren, NY$9.4M34223(f)35 yr5.71%

Apr '25Elizabeth City, NC$13.5M85223(f)35 yr5.68%

Mar '25Luverne, MN$5.4M54223(f)35 yr5.46%

Jan '25Philadelphia, PA$9.5M91223(f)35 yr5.83%

Nov '24Lebanon, OH$9.0M45223(f)35 yr5.07%

Nov '24Sanford, FL$14.5M168223(f)29 yr5.62%

Sep '24Mason City, IA$1.6M40223(f)35 yr5.79%

Mar '24Del Valle, TX$47.3M341221(d)(4)40 yr6.15%

Avg rate across last 20 endorsed loans5.18%

Full Portfolio: 3.47% avg rate · range 2.14%–6.15%

Top States: TX (16) · LA (13) · CT (6) · FL (5) · MN (4)

Source: HUD Insured Multifamily Mortgages

Deal History

Annual volume by program source.

2021

$338.1M24 deals

2022

$476.6M18 deals

2023

$135.5M6 deals

2024

$93.9M8 deals

2025

$111.4M6 deals

Sources: HUD

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