First Mortgage Loan Programs

housing 3

Aurora St. Charles Senior Living (Aurora)

 

IHDA’s taxable loan products provide first mortgages with aggressive terms and interest rates, bringing low-cost capital to an increasingly underserved market and enabling the development community to improve the quality and affordability of rental housing in Illinois.

 

Credit Advantage provides construction and permanent mortgage loan financing for LIHTC projects with a maximum loan amount of $10 million. Loans over $3 million will be insured by the Federal Housing Agency – Housing Finance Agency Multifamily Risk-Sharing program. Find more information in the Credit Advantage Program Guidelines.

Affordable Advantage provides permanent first mortgage financing for stabilized new construction, refinance, or acquisition/minimal rehabilitation of up to $10 million. Loans over $3 million will be insured by the Federal Housing Agency – Housing Finance Agency Multifamily Risk-Sharing program. Find more information in the Affordable Advantage Program Guidelines.

 

First Mortgage Loan Programs Today’s Indicative Rates*
Credit Advantage (Taxable)
Immediate Delivery
Two Year Forward Commitment
4.370%
4.920%
Affordable Advantage (Taxable)
Immediate Delivery
Two Year Forward Commitment
4.370%
4.920%