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

Loan Programs MHP is really 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 and possess supplied more financing that is permanent housing developed with 9 % income tax 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 range that is wide of solutions to meet up with your preferences.

Fannie Mae Multifamily Reasonably Priced Housing (MAH)

  • 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 maybe more. Early rate lock up to three years available prior to closing on low-income housing taxation credit developments.
  • Adjustable price: Quick, reliable execution for brand new construction, purchase or refinancing with a minimal floater and an integrated interest limit for adjustable price mortgages (“ARM”) as much as a term that is 10-year. Pre-payable after very first 12 months having a 1 % cost. Loan size from $1 million to $50 million. $25 million minimum for Structured ARM. 30-year amortization. Convertible to fixed price.

Federal Housing Administration (FHA)

  • Risk-Share: Quick, dependable execution, with competitive rates of interest 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 2 yrs just before closing.
  • Multifamily Accelerated Processing “MAP” (223f): Competitive interest levels for loans from $1 million without any optimum. 35-year term and amortization. Decreasing pre-payment routine with 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 just before closing. As much as 20-year term and amortization that is 35-year.
  • Tax-Exempt Financing – Direct placement through certainly one of our bank lines of credit, yielding the transaction costs that are lowest for tax-exempt execution. Exemplary prices. Permanent loan size from $1 million to $5 million with 30-year amortization. Borrowers have choice between tax-exempt and taxable permanent take-out of bond-funded construction loan.

Chapter 40B

  • Venture Eligibility Letters: We issue task eligibility letters (PEL), which developers need certainly to begin the comprehensive permitting procedure during the regional level.
  • Financing – we’ve a selection of short- and long-lasting funding choices to suit your task’s requirements. MHP has furnished very nearly $400 million in financing 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 possibility to revitalize high-poverty areas. Affordability required for 10 % of total units.
  • Green and healthier Housing tools: We provide lower interest levels and extra financing incentives to owners whom invest in increased energy efficiency and building design that is healthy. Extra information.
  • Housing Reserve Assurance Program (Housing RAP): you can expect non-profit designers a method to earn much more of the charge in money by utilizing credit that is MHP-provided to restore 80 % (up to $500,000) associated with cash-funded working book needed by income tax credit investors.
  • Performing capital lines of credit: we are able to provide as much as $500,000 in unsecured short-term debt to help protect nonprofit working and development expenses associated with 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 what you’re hunting for? Take to looking our Resources web page.


Travel Loan / Getaway Loan

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