New Construction or Substantial Rehabilitation
The program supports the financing of entirely new construction projects as well as significant rehabilitation efforts to improve existing multifamily properties.
Long-Term Fixed-Rate Financing
Borrowers can secure long-term, fixed-rate financing, providing stability and predictability in interest payments over the life of the loan.
Loan-to-Cost (LTC) Ratio
The loan amount is determined based on a percentage of the total development costs, known as the Loan-to-Cost ratio. This ratio helps ensure that the borrower has sufficient financing to cover the expenses associated with the project.