Together We Can Build a Better Community

Single & Multi-Family Affordable Housing


UCNS has loan products for government housing authorities, non-profit agencies, general contractors and developers who build or develop, rehabilitate, or repurpose properties to create single & multi-family affordable housing.

As a non-bank lending institution, UCNS has a great deal of lending flexibility for affordable housing projects.

Please reach out to Amy Thornton by phone at 801-316-9118 or by email at amy@utcns.com with any questions.

Low-Income Housing Tax Credit Loan Terms*

  Acquisition Pre-development Construction
Term up to 36 months up to 24 months up to 24 months
Rate ** 90-day LIBOR** + index 3.50%, 4.50% minimum interest rate 90-day LIBOR** + index 3.50%, 4.50% minimum interest rate 90-day LIBOR** + index 3.50%, 4.50% minimum interest rate
Amortization Interest-only Interest-only Interest-only
Repayment Quarterly Interest Payments Quarterly Interest Payments Quarterly Interest Payments
LTV Up to 90% Up to 90% Up to 90%
Max. Loan 5,000,000 750,000 15,000,000
Min. Loan 250,000 100,000 3,000,000
Recourse Full to Borrower and Guarantor(s) Full to Borrower and Guarantor(s) Full to Borrower and Guarantor(s)
Origination Fee 1.25% 1.25% 1.50%
Equity Requirement 10% Min. 10% Min. 10% Min.

Interest Reserve

Full Term Reserve Full Term Reserve Full Term Reserve

Personal Guarantees

Everyone with ≥20% ownership in Borrower Everyone with ≥20% ownership in Borrower Everyone with ≥20% ownership in Borrower

* Additional terms and fees apply.
** UETOD anticipates ceasing its use of the LIBOR index and reserves the right to move to another index as industry practices change