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Affordable Housing Preservation Rehabilitation Financing

Affordable Housing Preservation Rehabilitation Financing

This program provides financing for the moderate rehabilitation of affordable housing properties with new Low-Income Housing Tax Credits (LIHTC).

Bond Credit Enhancement with 4% LIHTC 9% LIHTC Cash Loan
Description Bond credit enhancement for the moderate rehabilitation of affordable multifamily properties with a new 4% LIHTC and tenants in place Financing for the moderate rehabilitation of affordable multifamily properties with a new 9% LIHTC and tenants in place
Type of Funding Bond credit enhancement for acquisition/rehabilitation based on projected post rehabilitation net operating income (NOI); cash or letter of credit collateral required to fund gap between supportable debt on current NOI and bond mortgage loan amount (collateral held until stabilization); interest only during the rehabilitation/stabilization period Financing for acquisition/rehabilitation based on projected post-rehabilitation NOI; cash or letter of credit collateral required to fund gap between supportable debt on current NOI and loan amount (collateral held until stabilization); interest only during the rehabilitation/stabilization period
Eligible Properties Garden, mid-rise or high-rise multifamily properties with new 4% LIHTC undergoing moderate rehabilitation with tenants in place Garden, mid-rise or high-rise multifamily properties with new 9% LIHTC that are undergoing moderate rehabilitation with tenants in place
Min DSCR DSCR Calculator 1.15x 1.15x
Max LTV 90% 90%
Max Term 35 years 35 years
Max Amortization 35 years 35 years
Prepayment Fee maintenance Yield maintenance
Subordinate Financing Permitted Permitted
Tax and Insurance Escrows Required Required

Program Plus Freddie Mac Loans

Program Plus Options
Fixed Rate Loans Floating Rate Loans
Lease-Up Loans Manufactured Housing Community Loans
Revolving Credit Facility Student Housing Loans
Supplemental Loans Value-Add Loans

Affordable Housing Freddie Mac Loans

Affordable Housing Options
9% LIHTC Cash Loans Bond Credit Enhancement with 4% LIHTC
Bond Credit Enhancement with Other Affordability Components Cash Loan with Other Affordability Components
Direct Purchase of Tax-Exempt Mortgages Preservation Rehabilitation Financing
Supplemental Loans Tax-Exempt Bond Securitization (TEBS)
Variable Liquidity Pricing

Other Freddie Mac Loans

Other Freddie Loan Types
Student Housing Loans Small Balance Loans
Freddie Mac Single-Family Rental (SFR) Pilot Program

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Fernando and Leanne are Amazing

Fernando and Leanne are amazing. I had many small businesses that need refinancing over the years. I have met many Brokers and there is always a catch. ALWAYS!… Use them! Once you do you will work with them forever

- Nirav Patel

She Took Care of All My Needs

If you searching for a great experience Commercial Loan Direct is the place. Leanne took care of me and honestly had the greatest experience. She handled all of my needs in a smooth and timely manner listened and addressed any concerns I had about the process and was very patient. I can be quite a handful at times and Leanne was so professional and kind hearted. I'd 100% recommend this company. Thank you again.

- Vincent Arias

Commercial Loan Direct Streamlined the Whole Process

We were in unfamiliar territory when it came to refinancing. Commercial Loan Direct streamlined the whole process for us. Leann connected us with lenders that were the right fit for us. The money and time we saved was so worth it. I highly recommend them

- Rita Pisarski