Eligible Uses:

Acquisition of residential, commercial or mixed-use properties that will serve low- and moderate- income populations and/or contribute to an articulated community development strategy, including: Expiring-use HUD Section 8, USDA-RD and LIHTC properties, and Developable land.

Additional Requirements:

Underwritten on experience, track record and capacity of the borrower and competitiveness of the project to secure development funding. Development concept and plan required, including early due diligence on market and development and operating costs. Acquisition loans with terms longer than 3 years are suited for established organizations with a track record and a pipeline of projects.

Loan Size:

Up to $3 million.

Terms and Conditions:

Maximum 100% LTV, Up to 3 years; may extend to 5 years on case-by-case basis, Interest-only payments, Secured by property; may subordinate, Recourse to borrower.