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 Transactions | New 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
Affordable Housing Mortgages
