Rules
The HUD MAP Guide in plain English, and what has changed since
The MAP Guide (HUD Handbook 4430.G) is HUD's rulebook for FHA multifamily loans processed by approved lenders. The edition in force is still the 2020 MAP Guide, effective March 18, 2021. There is no 2024, 2025 or 2026 edition; HUD has amended it piece by piece through Mortgagee Letters and Federal Register notices, which override the printed text.
Which edition is in force
The 2020 MAP Guide (HUD Handbook 4430.G, REV-3) was issued December 18, 2020 and took effect March 18, 2021, replacing the 2016 edition. It is still the edition in force. HUD’s own 2026 letters prove it: Mortgagee Letter 2026-04 amends “the 2020 MAP Guide,” and Mortgagee Letter 2026-05 cites “Section 5.1.2.A.2.b of the 2020 MAP Guide.” We found no 2024, 2025 or 2026 edition.
Read HUD’s PDF directly: MAP Guide, Handbook 4430.G (hud.gov PDF). We link to it rather than copy it, because the printed text is now wrong in several places and only the Mortgagee Letters below tell you where.
Chapter by chapter
| Chapter | What it covers | Use it when you want to know |
|---|---|---|
| 1. Introduction | What MAP is, programs covered, how the Guide relates to regulations | What “MAP” processing means |
| 2. Lender Qualifications and Practices | MAP lender and underwriter approval, brokers and correspondents, identity of interest | How a lender gets approved; what a broker may and may not do (MAP lenders) |
| 3. Programs | General rules (3.1: regulatory agreement, single-asset borrower, non-recourse, rate, term, prepayment, fees, MIP, commercial space, student housing, transient use, reserves), then each program: NC/SR (3.2), 221(d)(4) (3.3), 220 (3.4), 231 (3.5), 241(a) (3.6), 223(f) (3.7), 223(a)(7) (3.8), insurance (3.9), large loans (3.10) | The term sheet for any program (requirements) |
| 4. Application Processing | Concept meetings, pre-application, invitation letters, firm commitment, extensions, appeals | The process and its deadlines (timeline) |
| 5. Architectural and Construction Analysis | Substantial rehab definition, classes of work, consultant duties, CNA processing for 223(f) and 223(a)(7), construction contracts | Whether your scope is 223(f) or 221(d)(4) |
| 6. Energy and Water Conservation | Energy codes for NC/SR; Green MIP certification and reporting | Energy code; note the Green MIP parts are void |
| 7. Valuation and Market Analysis | Market studies, appraisals, effective dates, rents, expenses, commercial space limits | How value and income are underwritten |
| 8. Mortgage Credit | Single-asset entity, principals, credit and character, financial capacity, secondary financing, terms | Who must sign, what financial statements HUD wants |
| 9. Environmental Review and Requirements | Levels of review, HEROS, Phase I/II, hazards, noise | Site issues (third-party reports) |
| 10. Management Analysis | Management agent approval, agreements, fees, previous participation, fair housing marketing | Who can manage the property |
| 11. Lender Underwriting, HUD Review and Closing | Underwriting narrative, HUD review, rate lock, note terms, prepayment provisions | What goes in the application and the note |
| 12. Construction Period | Pre-construction conference, HUD construction inspections, monthly progress meetings, architect’s duties | How a 221(d)(4) is administered during construction |
| 13. Cost Certification | Who certifies, cut-off dates, forms | Closing out a construction loan |
| 14. LIHTC and Other Tax Credit Programs | LIHTC underwriting, subsidy layering, the LIHTC pilot | Tax credit deals |
| 15. Oversight of MAP Program Requirements | Lender reviews and sanctions | Lender enforcement |
| 16. Master Leases with Market Tax Credits | Master-lease structures with tax credit investors | Historic or other credit structures |
| 17. Section 207: Refinancing Cooperative Housing Projects | 223(f)-style refinance of co-ops | Co-op refinancing |
| 18. Section 223(a)(7) | Eligibility, fees, 30-day processing standard, terms | Streamlined refinance (223(a)(7)) |
| 19. Closing Guide | Closing procedures, Davis-Bacon clearance, riders and certifications | Closing logistics (Davis-Bacon) |
The appendices carry the detail: Appendix 2 (quality control plans and identity of interest examples), Appendix 3 (program specifications and limitations, the quickest summary table in the Guide), Appendix 4 (application exhibits and checklists), Appendix 5 (architectural standards, accessibility, drawings, capital needs assessments), Appendix 6 (energy modeling), Appendix 7 (valuation), Appendix 8 (mortgage credit forms and analysis), Appendix 9 (environmental), Appendices 12 and 13 (construction period and cost certification), Appendix 15 (lender compliance deficiencies) and Appendix 16 (lease structure chart).
What has changed since the 2020 MAP Guide
Each item below overrides or adds to the printed Guide. Dates are the document date; effective dates are noted where they differ.
| Date | Document | What changed | Status |
|---|---|---|---|
| June 28, 2023 | ML 2023-14 | Rewrote section 3.10, Large Loan Risk Mitigation: threshold raised from $75 million to $120 million and indexed annually; new ratio table, reserve and net worth/liquidity rules (large loans) | In force (threshold since raised) |
| June 4, 2024 | ML 2024-11 | 223(f) Manufactured Home Community program for mission-driven owners (governments, resident-owned communities, co-ops, nonprofits, CDFIs, tribes), an exception to the 223(f) bar on manufactured home parks | In force |
| Jan. 8, 2025 | ML 2025-03 | Raised LTV/LTC and lowered DSCR for 221(d)(4) and 223(f): market rate 87% at 1.15x (was 85% at 1.176x), affordable 90% at 1.11x (was 87% at 1.15x); 223(f) cash-out test unchanged; not for 232 or risk share | In force; printed ratios superseded |
| Apr. 14, 2025 | ML 2025-11 | CY2025 high cost percentages; sub rehab threshold $19,948 per unit; large loan threshold $130 million | Replaced by ML 2026-05 for 2026 |
| Sept. 23, 2025 | 90 FR 45789 | MIP set at 0.25% upfront and annual for every multifamily program (applications on or after Oct. 1, 2025); Green, Affordable and Broadly Affordable categories, green riders and the 5% fee overlay eliminated (MIP) | In force; MAP 3.1.10 and chapter 6 Green MIP superseded |
| Jan. 22, 2026 | ML 2026-01 | Middle Income option for 221(d)(4): 90% LTC and 1.11x where at least 50% of units are restricted to 120% of AMI or less (supersedes ML 2025-02); not for 220, 231, risk share or 232 | In force |
| May 4, 2026 | ML 2026-04 | Environmental: railroad vibration section 9.6.8.K removed; pipelines over 200 psi need 10 feet from the easement edge; high-voltage and fall-hazard rule rewritten; outdoor noise-sensitive uses defined | In force for loans not yet initially endorsed |
| May 6, 2026 | FR Doc. 2026-08795 | CY2026 statutory per-unit limits, +2.3% CPI-U, effective Jan. 1, 2026 (limits) | In force |
| May 20, 2026 | ML 2026-05 | CY2026 high cost percentages (270%; 405% Special Limit Areas; 315% High Cost Area waivers); sub rehab $20,406 per unit; large loan threshold stays $130 million | In force |
| July 11, 2026 | Public Law 119-101, sec. 211 | New statutory base amounts (4.4 times the old base) and a construction-cost index | Enacted; HUD implementation pending |
| Oct. 2026 | ML 2026-12 | Build-to-rent communities of houses, duplexes and triplexes eligible under 221(d)(4) (new construction) and 223(f) (certificate of occupancy under 3 years) (build-to-rent) | In force (“effective immediately”) |
| Feb. 26, 2026 | Draft ML, “Multifamily Improvements for MAP Efficiency” | Proposes discount fees mortgageable within the 3.5% cap, a 4.5% lender fee cap on loans of $2 million or less, more regional delegation and more latitude on third-party reports | Draft only. Not in force. |
ML 2026-12 carries no date on its face; the PDF was created October 13, 2026. Other 2026 Mortgagee Letters (2026-02, -03 and -06 through -11) concern single-family or servicing topics and do not amend MAP underwriting.
Reading the Guide with the overrides
When the Guide and a later letter disagree, the letter wins for any application it covers. The practical rule:
- Start with the Guide section (chapter 3 for the program, Appendix 3 for the summary).
- Check the ledger above for anything that touches that section.
- Check the effective-date language in the letter. Most apply to applications not yet initially endorsed; the MIP notice applies to applications submitted or amended on or after October 1, 2025.
- Where a letter is silent on a topic (for example, ML 2025-03 does not mention large loans), the printed or previously amended rule stays.
Sources
- HUD MAP Guide, Handbook 4430.G, 2020 edition, bookmarked March 2021 version (PDF on hud.gov)
- HUD MAP Guide REV-3 transmittal (issued Dec. 18, 2020; effective Mar. 18, 2021)
- HUD Mortgagee Letter 2023-14, Revisions to Large Loan Risk Mitigation (June 28, 2023)
- HUD Mortgagee Letter 2024-11, Section 223(f) Manufactured Home Community Program (June 4, 2024)
- HUD Mortgagee Letter 2025-03, Multifamily Changes in DSCR and LTV/LTC (Jan. 8, 2025)
- HUD Mortgagee Letter 2025-11, CY2025 high cost percentages and thresholds (Apr. 14, 2025)
- 90 FR 45789, Changes in Mortgage Insurance Premiums for FHA multifamily programs (Sept. 23, 2025)
- HUD Mortgagee Letter 2026-01, Middle Income Housing option for 221(d)(4) (Jan. 22, 2026)
- HUD Mortgagee Letter 2026-04, Updates to Multiple Environmental Requirements (May 4, 2026)
- Annual Indexing of Basic Statutory Mortgage Limits, CY2026 (91 FR 24597, FR Doc. 2026-08795, May 6, 2026)
- HUD Mortgagee Letter 2026-05, CY2026 high cost percentages and thresholds (May 20, 2026)
- Public Law 119-101, 21st Century ROAD to Housing Act, section 211 (July 11, 2026)
- HUD Mortgagee Letter 2026-12, Build-To-Rent Developments Underwriting Eligibility (Oct. 2026)
- HUD draft Mortgagee Letter, Multifamily Improvements for MAP Efficiency (drafting table, Feb. 26, 2026; not final)
Checked against these sources on October 30, 2026. HUD changes program rules by Mortgagee Letter and Federal Register notice; the lender's commitment governs any loan.
Short answers
Is there a HUD MAP Guide 2026?
No. The edition in force is the 2020 MAP Guide, issued December 18, 2020 and effective March 18, 2021. HUD's 2026 Mortgagee Letters still amend 'the 2020 MAP Guide' by name. What changed in 2025 and 2026 came through Mortgagee Letters and Federal Register notices, listed in the ledger on this page.
Where is the HUD MAP Guide PDF?
On hud.gov, as Handbook 4430.G: https://www.hud.gov/sites/dfiles/OCHCO/documents/4430GHSGG.pdf. It is the bookmarked March 2021 version, about 955 pages. Copies hosted elsewhere may be older or unmarked; always read it alongside the Mortgagee Letters issued since.
What is in MAP Guide Appendix 5?
Appendix 5 holds the architectural and construction standards: property standards, accessibility requirements (A.5.2), seismic and fire protection, firm commitment drawings and specifications (A.5.5), and the capital needs assessment rules and CNA e-Tool guidance (A.5.7), including minimum replacement reserve requirements.
What does MAP Guide chapter 9 cover?
Environmental review: levels of review, lender and HUD responsibilities, HEROS reports, Phase I and Phase II environmental site assessments, remediation, and site hazards such as noise, explosive and flammable hazards, pipelines and high-voltage lines. Mortgagee Letter 2026-04 changed several of these rules in May 2026.
Which numbers in the printed MAP Guide are out of date?
The biggest ones: the loan-to-value and debt service coverage ratios (superseded by ML 2025-03), the MIP rates and categories including Green MIP (superseded by 90 FR 45789), the large loan threshold of $75 million in older text (now $130 million), and the environmental rules on railroad vibration, pipelines and high-voltage lines (changed by ML 2026-04).