Southern
Construction
Flexible Loan Products for Affordable Housing Development
Construction and rehabilitation financing for multifamily and single-family scattered-site or subdivision projects.
| Construction | Multifamily Construction | Single Family Construction (Revolving) |
|---|---|---|
| Purpose | New construction and rehab of multifamily properties | New construction and rehab of single-family scattered-site and subdivision |
| Loan Amounts | Up to $15MM | Up to $10MM |
| Term | Up to 36 months | Up to 36 months |
| LTV | Up to 95% with subsidy in place | Up to 85% |
| Repayment | Monthly interest only | Monthly interest only |
| Commitment Fee | Determined on a case-by-case basis | Determined on a case-by-case basis |
| Application Fee | $2,000 | $2,000 |
| Collateral | 1st lien security interest | 1st lien security interest |
| Legal | Paid by borrower | Paid by borrower |
Multifamily Construction
- Purpose
- New construction and rehab of multifamily properties
- Loan Amounts
- Up to $15MM
- Term
- Up to 36 months
- LTV
- Up to 95% with subsidy in place
- Repayment
- Monthly interest only
- Commitment Fee
- Determined on a case-by-case basis
- Application Fee
- $2,000
- Collateral
- 1st lien security interest
- Legal
- Paid by borrower
Single Family Construction (Revolving)
- Purpose
- New construction and rehab of single-family scattered-site and subdivision
- Loan Amounts
- Up to $10MM
- Term
- Up to 36 months
- LTV
- Up to 85%
- Repayment
- Monthly interest only
- Commitment Fee
- Determined on a case-by-case basis
- Application Fee
- $2,000
- Collateral
- 1st lien security interest
- Legal
- Paid by borrower
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