Multifamily Construction Loan

The Multifamily Construction Loan provides the developer with flexibility. Loan amounts from $500,000 covers the smallest of projects and extends to beyond $25 million. Conventional, Agency and Private lending platforms are available to meet your requirements. Prior to closing, a suitable permanent loan commitment must be in place. Developers demonstrating a successful track record of multifamily development in all types of communities are encouraged to apply. 

 

 

Key Points

$500,000 Minimum Loan Amount

Rural Affordable Housing Eligible

Available For Market Rate, Moderate Income and Subsidized Developments

Subordinate Mortgages Permitted (case-by-case)

Gap Funding Permitted

 

 

Terms

$500,000 - $25 million

LTC: 90% max.

Interest: from Market Rates

Rate: Fixed

Term: Up to 24 months

Amort: Interest Only

 

 

Purpose

New Construction

Rehabilitation

 

 

Property Types

Apartment

Cooperative Housing

Single Room Occupancy (SRO)