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	1.15x	1.15x
Max LTV	90%	90%
Max Term	35 years	35 years
Max Amortization	35 years	35 years
Prepayment	Fee maintenance	Yield maintenance
Subordinate Financing	Permitted	Permitted
Tax and Insurance Escrows	Required	Required

Freddie Mac Affordable Housing Loans

Affordable Housing Mortgages