FREDDIE MAC 9% LIHTC CASH LOANS
Lenders for affordable Low-income multifamily LIHTC financing for new construction or rehabilitation loans in Dallas Fort Worth.
Apartment Loan Amount
Situation dependent. Call us for details.
Freddie Mac 9% LIHTC Cash Loans in Texas
Description
Optigo loans for affordable multifamily properties with 9% Low-Income Housing Tax Credits (LIHTCs). Transactions can be structured as a forward commitment for new construction or substantial rehabilitations, or an immediate funding for tenant-in-place rehabilitation.
Eligible Transactions
- To-be-built or substantially rehabilitated garden, mid-rise or high-rise multifamily properties with
9% Low-Income Housing Tax Credit (LIHTC) - Garden, mid-rise, or high-rise multifamily properties with 9% LIHTC with 90% occupancy for 90 days
- Garden, mid-rise or high-rise multifamily properties with 9% LIHTC that are undergoing moderate rehabilitation with tenants in place
Markets
Nationwide
Loan Purpose
Forward Commitment, Immediate Funding or Preservation Rehabilitation
Loan Terms
15 years minimum and 35 years maximum
Leverage
Maximum 90% Loan-to-Value, Minimum 1.15x Debt Coverage Ratio
Forward Commitment Term
Up to 36 months plus a free 6-month extension during construction period
Prepayment Types
Fixed-Rate Loans- Yield Maintenance
Subordinate Debt
Permitted subject to non-negotiated Freddie Mac subornation agreement. Acceptable subordinate lenders limited to governmental entities, CDFIs and nonprofits
Net Worth and Liquidity
Net worth: Equal to loan amount
Liquidity: Equal to 9 months of principal and interest
Terms
Recourse
Non-recourse with standard cave-out provisions required
Escrows
Escrows for taxes, insurance, and replacement reserves are required but may be waived for lower leveraged assets
Third Party Reports
Standard third-party reports apply
Fees
Contact G.R.E.A. for an assistance of loan costs and fees
For current Freddie Mac Low-Income and Affordable Housing Loans, contact our LIHTC multifamily lenders in Dallas Ft. Worth.
Call For a Quote:
(214) 679-9673
Related Fannie Mae Loan Options
FANNIE GREEN
FANNIE HYBRID ARM
