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 |
Program Plus Freddie Mac Loans
| Program Plus Options | |
|---|---|
| Fixed Rate Loans | Floating Rate Loans |
| Lease-Up Loans | Manufactured Housing Community Loans |
| Revolving Credit Facility | Student Housing Loans |
| Supplemental Loans | Value-Add Loans |
Affordable Housing Freddie Mac Loans
Other Freddie Mac Loans
| Other Freddie Loan Types | |
|---|---|
| Student Housing Loans | Small Balance Loans |
| Freddie Mac Single-Family Rental (SFR) Pilot Program | |