Property Type: 

Existing multifamily properties encumbered by Low Income Housing Tax Credits regulatory agreements or project-based Section 8 HAP Contracts.

Loan Amount:

Minimum of $2,000,000

Liability:

Non-recourse with standard carve outs

Assumability:

Fully assumable upon approval and with payment of 1% fee

Standard Loan Term:

10 years but up to 30 years depending on regulatory agreement.

Loan to Value (LTV):

Maximum of 80% LTV (90% if in the first year of LIHTCs)

Debt Service Coverage (DSC):

Minimum of 1.20 DSC (1.15 if in the first year of LIHTCs)

Amortization:

Up to 30 years

Interest Rate:

Competitive rates priced daily.  Please contact your Alliant Capital Loan Originator for a current rate quote. 

Standard Yield Maintenance:

9.5 years for a 10-year loan term will provide most competitive rate.  

(Alternative yield maintenance periods are available)

Reserves:

Replacement Reserves, Taxes, and Insurance 

Application Deposit:

$13,500 (Includes appraisal, environmental assessment, physical needs assessment costs, and other due diligence costs)

Lender's Legal Fee:

$5,500 (estimated)  

Survey: 

Required (Unless specific waiver approval granted.)

Origination Fee:

1% of loan amount, subject to a $30,000 minimum (payable at rate lock).

Rate Lock Deposit

2% (Refundable after closing) (also known as a Commitment Fee)

Occupancy Requirement:

Minimum of 90% for 90 continuous days prior to issuing Commitment

Supplemental Mortgages:

Available one year after closing of loan.

Eligible Borrowers:

Single-asset U.S. borrower with all U.S. principals.  Foreign borrowers may also have ownership interests, subject to proper structuring of the borrowing entity.

Early Rate Lock:

Available on waiver basis. Please call for more information.