Construction to Permanent Loan- Summary of Terms

DISCLAIMER: Presentation of terms is for illustrative purposes only; all offerings would be subject to credit review. Terms may not be available to all lenders or borrowers and is dependent on market conditions.

Geography: Nationwide

Loan Amount: $10 million minimum

Loan Rate: Fixed rate, subject to market conditions

Loan Term: Up to 20 years

Amortization: 40 years

Funding: Monthly or Quarterly Draw Down

Maximum LTV: 90%

Minimum DSCR: 1.15x

Recourse: Recourse for completion and stabilization. Post stabilization, standard industry
carve-outs

Timing: 60 days from application to funding

  • New construction and substantial rehabilitation on LIHTC properties, including historic rehabs

  • Includes 100% affordable, mixed income, and missing middle/workforce housing in high cost markets

  • Focus on tax-exempt bonds and 4% LIHTC projects

  • Ability to fund taxable debt and 9% LIHTC

  • Underwriting flexibility: high commercial and other income, new or complex tax abatements and rental subsidy programs