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 firstname.lastname@example.org with any questions.
Low-Income Housing Tax Credit Loan Terms*
|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|
|Repayment||Quarterly Interest Payments||Quarterly Interest Payments||Quarterly Interest Payments|
|LTV||Up to 90%||Up to 90%||Up to 90%|
|Recourse||Full to Borrower and Guarantor(s)||Full to Borrower and Guarantor(s)||Full to Borrower and Guarantor(s)|
|Equity Requirement||10% Min.||10% Min.||10% Min.|
|Full Term Reserve||Full Term Reserve||Full Term Reserve|
|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