Affordable Housing Building

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 1.15x1.15x
Max LTV 90%90%
Max Term 35 years35 years
Max Amortization 35 years35 years
Prepayment Fee maintenanceYield maintenance
Subordinate Financing Permitted Permitted
Tax and Insurance Escrows RequiredRequired

Freddie Mac Affordable Housing Loans