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Multifamily Housing Loans

 

Financing for affordable housing properties

Investing in or developing an affordable multifamily property?

We can help. With over 30 years of experience, we know how to navigate the challenges of this sector.

We provide construction-to-perm and permanent senior debt for the preservation or creation of large scale multifamily affordable housing properties.

We lend to sole proprietors, partnerships, LLCs, corporations, nonprofits, and for-profit entities.

Bryan Place, built by nonprofit developer CASA, provides 16 units of affordable housing for very-low-income residents in North Carolina.

Eligible uses:

  • Acquisition
  • Refinance
  • Renovations
  • Construction-to-mini-perm or permanent financing for conventional market rate or affordable rental housing

Not eligible:

  • Homeownership*
  • Single-family housing for sale*
  • Mobile home or RV parks
  • Container or tiny home properties

*If you’re interested in getting financing for a single-family home — whether as an investment property or a primary residence — contact the home lending team at your nearest branch.

What we look at

When we evaluate your application, we look at the following criteria:

Cash flow: We’ll need to see 2-3 years of tax returns. Your business or nonprofit needs to have enough annual cash flow to cover expenses plus the loan payments, with revenue left over.

Experience: We will review the experience of project owners, managers and guarantors. We want to see that the owner or manager has relevant experience, both in your industry and in management.

 
Capital

Capital: Our loan can't provide 100% of your project's financing. You will need to have some cash investment in the project, too. We sometimes have programs available to support borrowers who need help with capital contributions.

Collateral

Collateral: In most cases, your loan will need to be fully secured by real estate collateral. We sometimes have programs available to support borrowers who need help with this requirement.

 
Credit

Credit: We will review your personal credit report to see if you have a history of paying debts and suppliers on time. We can make exceptions for one-time events if you can demonstrate consistent on-time payment history otherwise.

Complete an Inquiry Form