Affordable Multifamily Loans
Learn more about our multifamily affordable property loans that can be financed with private placement or direct-purchase of tax exempt and taxable bonds.
Have an affordable multifamily deal you'd like to discuss?
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FEATURED ON VIEWPOINT WITH DENNIS QUAID
Ready Capital is at the forefront of affordable housing creation and preservation
Ready Capital is helping to alleviate the shortage of affordable housing with financing for new construction, renovation, acquisition of existing properties, and debt refinancing.
We have facilitated $7 billion of Low-Income Housing Tax Credit financing for 75,000 apartment units in affordable and mixed-income rental properties, plus capital to build over 3.8 million affordable apartment homes for 8 million families.
To learn what we’re doing to address the affordable housing shortage in our country, watch the interviews with Ready Capital’s Gary Taylor and Cody Langeness below.
OVERVIEW
Ready Capital offers first-mortgage loans on affordable rental properties with private placement or direct-purchase of tax exempt and taxable bonds on 4% LIHTC transactions.
Our streamlined execution process includes the structuring of tax exempt and taxable bonds directly into sponsored investment funds. Advantages of our process include:
- Low transaction costs
- No separate construction lender
- Financing written on a proforma basis
- Speedy commitment process and certainty of execution
- Interest-rate locked 30+ days prior to closing
Affordable Housing Loans for Multifamily Properties
Our professionals combine extensive real estate experience with capital markets expertise to originate, underwrite, structure, close, and manage multifamily debt and equity investments.
Loan Terms
| Loan Purpose |
Acquisition-rehabilitation New Construction Bridge-to-Bond LIHTC Transaction |
| Loan Amount |
$3 million to $100+ million |
| Loan Term | 5 years to 17 years |
| LTV | 90% |
| Closing Timeline | 45-60 days from term sheet execution |
| Fees | 1.00-2.00% |
| Minimum DSCR | 1.15x |
| Amortization | 40-45 years |
| Recourse |
Recourse through stabilization Non-recourse thereafter (except for industry-standard carve-outs) |
Affordable Housing Lending
Our team of professionals provide affordable housing loan expertise and confidence through all markets and credit cycles.