Loan Programs > Commercial Real Estate > Affordable Multifamily
Affordable MULTIFAMILY
Learn more about our multifamily affordable property loans that can be financed with private placement or direct-purchase of tax exempt and taxable bonds.
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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 at its best
Our team of professionals have deep industry expertise to offer affordable housing loan know-how and confidence through all markets and credit cycles.