Southern
Forward Commitment
Flexible Loan Products for Affordable Housing Development
Forward take-out commitments for LIHTC properties greater than 20 units.
| Forward Commitment | Forward Commitment |
|---|---|
| Purpose | Take-out for LIHTC properties greater than 20 units |
| Loan Amounts | $500K - $10MM |
| Term | Up to 30 years |
| LTV | Up to 90% |
| Repayment | Monthly principal and interest; may have 15-year lockout or yield maintenance |
| Commitment Fee | Determined on a case-by-case basis |
| Application Fee | $2,000 |
| Debt Service Coverage | Determined on a case-by-case basis |
| Collateral | 1st lien security interest |
| Legal | Paid by borrower |
Forward Commitment
- Purpose
- Take-out for LIHTC properties greater than 20 units
- Loan Amounts
- $500K - $10MM
- Term
- Up to 30 years
- LTV
- Up to 90%
- Repayment
- Monthly principal and interest; may have 15-year lockout or yield maintenance
- Commitment Fee
- Determined on a case-by-case basis
- Application Fee
- $2,000
- Debt Service Coverage
- Determined on a case-by-case basis
- Collateral
- 1st lien security interest
- Legal
- Paid by borrower
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