Loan Programs MHP is a frontrunner in permanent funding for affordable and developments that are mixed-use.

Loan Programs MHP is a frontrunner in permanent funding for affordable and developments that are mixed-use.

We now have provided over $1.2 billion when it comes to funding of over 24,000 flats in Massachusetts since 1990 while having supplied more financing that is permanent housing developed with 9 per cent taxation credits than just about any other loan provider. With Fannie Mae and FHA multifamily programs along with MHP’s direct financing programs, we provide a wide range of funding solutions to satisfy your requirements.

Fannie Mae Multifamily Reasonably Priced Housing (MAH)

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  • Fixed price: Quick, reliable execution for brand new construction, acquisition or refinancing with competitive rates of interest for terms between 5-30 years with 30-year amortization. Loan size from $1 million to $50 million or higher. Early rate secure up to 3 years available prior to closing on low-income housing income tax credit developments.
  • Adjustable price: Quick, reliable execution for new construction, purchase or refinancing with a reduced floater and an integrated rate of interest limit for adjustable price mortgages (“ARM”) as much as a 10-year term. Pre-payable after first 12 months having a 1 per cent cost. Loan size from $1 million to $50 million. $25 million minimum for Structured ARM. 30-year amortization. Convertible to fixed price.

Federal Housing Management (FHA)

  • Risk-Share: Quick, dependable execution, with competitive interest levels and versatile underwriting terms. Loans between $1 million and $50 million with 35- to term that is 40-year amortization. Early rate lock available as much as couple of years ahead of closing.
  • Multifamily Accelerated Processing “MAP” (223f): Competitive interest levels for loans from $1 million without any optimum. 35-year term and amortization. Decreasing schedule that is pre-payment no pre-payment charges after a decade.

MHP Direct Lending

  • Fixed-rate: Competitive prices. Versatile underwriting terms. Loan size from $250,000 to ten dollars million. Rate lock as much as couple of years ahead of closing. As much as 20-year term and amortization that is 35-year.
  • Tax-Exempt Financing – Direct positioning through certainly one of our bank lines of credit, yielding the cheapest deal expenses for tax-exempt execution. Exemplary prices. Everlasting loan size from $1 million to $5 million with 30-year amortization. Borrowers have option between tax-exempt and taxable take-out that is permanent of construction loan.

Chapter 40B

  • Venture Eligibility Letters: We issue task eligibility letters (PEL), which developers need certainly to start the comprehensive permitting procedure in the regional degree.
  • Financing – we’ve a variety of short- and financing that is long-term to suit your task’s requirements. MHP has supplied very nearly $400 million in funding for 69 multi-family developments built through Ch. 40B.

Extra funding help

  • Community Revitalization choice: we offer permanent funding for predominantly market-rate housing developments that have actually the possible to revitalize high-poverty communities. Affordability required for 10 percent of total devices.
  • Green and healthier Housing tools: we offer lower interest levels and extra financing incentives to owners whom invest in increased energy efficiency and building design that is healthy. Additional information.
  • Housing Reserve Assurance Program (Housing RAP): you can expect non-profit designers ways to earn significantly more of these charge in money making use of MHP-provided credit improvement to displace 80 (up to $500,000) for the cash-funded working book needed by taxation credit investors.
  • Performing capital lines of credit: we could provide as much as $500,000 in unsecured short-term financial obligation to help protect nonprofit working and development expenses linked to new affordable housing developments.

To learn more:

  • Director of Lending David Rockwell: drockwell@mhp.net or 857-317-8550.
  • Senior Relationship Manager Nancy McCafferty: nmccafferty@mhp.net or 857-317-8556.

Related Resources

Didn’t find exactly what you’re in search of? Decide to try looking our Resources web page.

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Travel Loan / Holiday Loan

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