Where Communities, Leaders, and Developers Meet
Utah Equitable TOD Loan Fund
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 + 3.25% | 90-day LIBOR + 3.25% | 90-day LIBOR + 3.25% |
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 | 2,000,000 | 500,000 | 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's anticipates ceasing its use of the LIBOR index in favor of a new index.