Affordable Housing Loan Products

Pre-Development Loans – In some instances, there are acquisition, land costs, and/or various soft costs that must be paid per required funding benchmarks before the construction loan closing can occur.  In this situation, CUB would consider a pre-development loan to cover those costs only to allow the project to be maintained until a construction closing is completed. For more details, here’s our contact info.

Construction/Bridge Loans – Your loan will be structured to what is needed so your specific project can be completed on time and on budget. For more details, here’s our contact info.

  • Loan Size: Any amount considered.
  • Term/Amortization: Flexible but, typically 12 to 24 months.
  • Interest Rate: Prime plus
  • LTV Ratio: 85%

Permanent Loans – permanent financing options. For more details, here’s our contact info.

  • Loan Size: Any amount considered.
  • Term/Amortization: 15 years / 30-year amortization.
  • Interest Rate: Prime plus
  • LTV Ratio: 80%
  • Escrows: Taxes, Insurance, Operating Reserves, and Replacement Reserve. Escrow accounts to be held at CUB.

Acquisition Loans – Your loan will be structured to what is needed for your specific acquisition. For more details, here’s our contact info.

  • Loan Size: Any amount considered.
  • Term: Flexible – up to 5 years.
  • Amortization: Preferred 15-20 years; max of 25 years.
  • Interest Rate: Fixed and Adjustable available.
  • LTV Ratio: preferred 75%

Post Year 15 (Y15) Loans – For more details, here’s our contact info.

Offer of credit is subject to credit approval