Affordable Housing Building

Bond Credit Enhancement with Other Affordability Components


A credit enhancement program for fixed- or variable-rate multifamily housing bonds including bond refundings, substitutions, or new issue transactions with 80-20 bonds, combination bonds, 501(c)(3) bonds, Section 8, Section 236 or tax abatements.


Summary
Eligible TransactionsNew credit enhancement facility or replacement of existing credit enhancement facility for tax-exempt bonds for refundings, substitutions and acquisitions
Eligible Properties Garden, mid-rise and high-rise multifamily properties with minimum occupancies of 90% for 90 consecutive days
Term 10 - 30 years
Max Amortization 30 years
Min DSCR DSCR Calculator 1.15x
Max LTV 90%
Prepayment Fee maintenance required
Subordinate Debt Permitted
Recourse Non-recourse
Appraisal, Environmental, and Engineering Report Required
Property and Real Estate Tax Escrow Required

Freddie Mac Affordable Housing Loans