Affordable Housing Development

We assist developers creating affordable rental housing, supportive housing, mutual housing, cooperatives, and homeownership. Loans may be for acquisition, bridge funding, construction/rehabilitation financing, or permanent terms. 

For more information, contact:
Cassandra Bradley at cbradley_at_capitalforchange.org

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  	HOUSING				BUSINESS/NONPROFIT		BOTH
  	Predevelopment	Construction	Permanent	LIME	Business	Real Estate	Line of Credit	Bridge
  Purpose	Predevelopment costs associated with construction or property acquisition	Rehabilitation, or construction of new affordable housing	Fully or partially amortizing loans for single family/multifamily affordable housing	Energy efficiency improvements (retrofit and/or alternative) for properties ≥5 units	Working capital, equipment purchase	Capital improvement, leasehold improvements, property acquisition	Line of credit	Short-term, financingbridging paymentfrom a third party
  Average Loan Range	$50,000 – $250,000	$150,000 - $2,000,000	$100,000 – $2,000,000	$100,000 – $1,000,000	$50,000 - $200,000	$100,000 - $1,000,000	$50,000 - $450,000	$50,000 - $500,000
  Interest Rate *	3%-6% (may accrue)	6%-7%	4.5%-7.00%	5.5% - 7.5%	6-8%	6-8%	5% - 7%	3%-6%
  Maximum Term	12-24 months	Up to 24 months	Up to 25 months	Up to 20 Years	Up to 10 years	Up to 10 years	Up to 12 months	Up to 14 Months
  Fees	Origination 1% - 2% Legal	Origination 1% - 2% Legal Appraisal Environmental (as required) Project review Inspections	Origination 1% - 2% Legal Appraisal Environmental (as required) Inspections	Origination 2% Energy Savings Technical Review Inspections	Origination 1% – 2% Legal	Origination 1% - 2% Legal Appraisal Environmental (as required) Inspections	Origination 1% – 2% Legal	Origination 1% – 2% Legal
  Collateral	Unsecured (Predevelopment) First Mortgage (Acquisition)	First mortgage	First mortgage	Guarantees or can be unsecured	UCC lien	UCC lien/first mortgage/other	Collateral evaluation on case by case basis	Lien/ pledge of grant funds

  * These terms are for general reference and are subject to change or modification. Please contact a Lending representative to discuss your specific borrowing needs.

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Multifamily Energy Loans

C4C’s LIME (Low Income Multifamily Energy) Loans program also works closely with property owners to make energy efficiency improvements to multifamily properties or condominium developments that meet the following requirements:

• No fewer than 5 units; and
• At least 60% of units affordable to households at no higher than 80% of Area Median Income (AMI)
• Consideration will be given to “high impact” properties, such as:
  • HUD financed properties, including housing authorities;
  • CHFA financed and FHA-insured developments;
  • Properties in low- or moderate-income geographies; or
  • Complexes that are Transit-Oriented Developments (TODs)

For more program details:
CLICK HERE, or contact Cassandra Bradley at cbradley_at_capitalforchange.org