Lines of Credit | Predevelopment LOC | Multifamily Acquisition LOC | Single Family LOC |
Purpose | To Cover Feasibility Studies and 3rd Party Costs | Expedited Closings for MF Properties to Compete with All-Cash Offers | Expedited Closings for Acquisition and/or Rehab of SF Homes. Pairs well with Scattered-site Development. |
Loan Amounts | Up to $1MM | Up to $10 MM | Up to $10 MM |
Term | Up to 36 months | Up to 36 months | Up to 36 months |
LTV | N/A | Up to 95% for Performing Multifamily Properties | Up to 85% |
Repayment | Monthly Interest Only | Monthly Interest Only | Monthly Interest Only |
Commitment Fee | Determined on a Case-by-Case Basis | Determined on a Case-by-Case Basis | Determined on a Case-by-Case Basis |
Application Fee | $2,000 | $2,000 | $2,000 |
Collateral | Unsecured | 1st Lien Security Interest | 1st Lien Security Interest |
Legal | Paid by Borrower | Paid by Borrower | Paid by Borrower |
Purpose | Take-out for LIHTC Properties > 20 Units |
Loan Amounts | $500K - $10 MM |
Term | Up to 30 Years |
LTV | Up to 90% |
Repayment | Monthly Principal & Interest; May have15-year Lockout or Yield Maintenance |
Commitment Fee | Determined on a Case-by-Case Basis |
Applications Fee | $2,000 |
Collateral | 1st Lien Security Interest |
Debt Service Coverage | Determined on a Case-by-Case Basis |
Legal | Paid by Borrower |
CHC sponsors several applications each year on behalf of its borrowers to receive an Affordable Housing Program (AHP) award for up to $500,000 for the acquisition, construction, rehabilitation, and development of affordable rental and ownership housing. As part of sponsoring borrower applications to FHLBank Atlanta, CHC also provides a commitment for additional financing for the project upon successful application to each organization.
Mini-Perm | Multifamily Permanent | |
Purpose | Acquire and Stabilize Multifamily Housing | Preserve Multifamily Properties Long Term, Fixed-rate Loan > 20 units |
Loan Amounts | $250K - $15 MM | $500K - $15 MM |
Term | Up to 7 Years | Up to 30 Years |
LTV | Up to 90% | Up to 90% |
Repayment | Monthly Principal and Interest Payment based on 30-year Amortization | Monthly Principal and Interest; May have 15-year Lockout or Yield Maintenance |
Commitment Fee | Determined on a Case-by-Case Basis | Determined on a Case-by-Case Basis |
Application Fee | $2,000 | $2,000 |
Debt Service Coverage | Determined on a Case-by-Case Basis | Determined on a Case-by-Case Basis |
Collateral | 1st Lien Security Interest | 1st Lien Security Interest |
Legal | Paid by Borrower | Paid by Borrower |