Loans for Affordable Housing

Bridge Loan

Rate: 7% + 

Term:  12 Months

Amortization:  Interest-Only

Loan Amount - up to the lesser of:

  • $2 Million 
  • 90% Loan-to-Cost
  • 1.10x DSCR (based on term financing)

Senior Term

Rate: Market rate, usually 3.5% - 6%

Term:  up to 15 years

Amortization:  Up to 40 years

Loan Amount - up to the lesser of:

  • $2 Million (combined with any subordinate debt)
  • 80% Loan-to-value
  • 1.20x DSCR 

Subordinate Term

Rate: Market rate, usually 6.5% - 12%+

Term:  up to 15 years

Amortization:  Up to 40 years

Loan Amount - up to the lesser of:

  • $2 Million (combined with any senior debt)
  • 90% Loan-to-value
  • 1.15x DSCR