By Keith Loria, Contributing Editor<\/i><\/p>\n
Greystone has launched its Greystone Affordable Loan Program, which provides long-term, fixed, forward rate-lock financing for multi-family affordable housing properties.<\/p>\n
The new Greystone Affordable Loan Program offers 15- or 30-year term non-recourse mortgages for loans of minimum $1 million. Loan to value ratios can range from 80 percent to 85 percent for LIHTC properties.<\/p>\n
\u201cWe\u2019re seeing more demand from borrowers as the affordable housing market matures, but there are few competitive financing solutions available today,\u201d Jeff Englund, managing director & head of Greystone\u2019s Affordable Housing group, said in a company release. \u201cGreystone\u2019s Affordable Loan Program fills a widening gap in the affordable housing lending sector, while at the same time, we continue to offer a full spectrum of lending options through our traditional GSE platforms to meet our borrowers\u2019 financing needs.\u201d<\/p>\n
The non-agency program provides borrowers with a comprehensive range of options for financing affordable housing developments, acquisitions and rehabilitations, complementing the company\u2019s existing Fannie Mae, Freddie Mac, and FHA lending platforms.<\/p>\n
By making this fixed-rate financing structure available, it enables borrowers to either obtain an early rate lock for long-term financing, where new construction and\/or repairs can be completed during the forward rate lock period, or immediate funding for moderate rehab transactions, where repairs or renovations occur upon closing of the permanent mortgage.<\/p>\n
A leading national provider of multi-family and healthcare mortgage loans, Greystone, ranked as a top-10 Fannie Mae DUS lender by volume, top-five Fannie Mae Multifamily Affordable Housing lender by volume and the number one FHA lender for 2012. The company offers a full range of long term, bridge, gap, Fannie Mae, Freddie Mac, FHA and CMBS lending solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Greystone has launched its Greystone Affordable Loan Program, which provides long-term, fixed, forward rate-lock financing for multi-family affordable housing properties. <\/p>\n","protected":false},"author":451,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004086104","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n