Loan Finder
Need help finding the right product?
Affordable

Providing access to financial products for the construction, acquisition and refinance of multifamily communities, particularly those affordable to people making less than area median income, has been a core mission at The Community Preservation Corporation since its inception in 1974. CPC Mortgage Company focuses on this mission by offering customers access to loan executions for the acquisition, refinance, and rehabilitation of multifamily affordable properties.

 

Freddie Mac Targeted Affordable Housing

Freddie Mac Optigo Targeted Affordable Housing (TAH) loans are available to preserve affordable rental housing in underserved communities. Eligible properties are affordable to families with low and very-low incomes and may include Section 8 financing, Section 236 financing, tax abatement, or other affordability components. CPC is able to provide cash loans, bond credit enhancements, tax-exempt loans, and other options.

 

Eligible Uses

  • Acquisition
  • Refinance
  • Rehabilitation

 

 

  • Fixed or floating-rate financing
  • Interest-only options available
  • Up to 80% – 90% LTV
  • 30-year or 35-year amortization
  • Up to 3.5 year forward rate-lock available

 

Fannie Mae Multifamily Affordable Housing

Fannie Mae Multifamily Affordable Housing (MAH) loans preserve the affordability of subsidized rental housing through long-term financing. CPC can offer flexible terms and competitive pricing, fixed- or variable-rate financing options, and certainty and speed of execution. Eligible projects include various affordable housing modalities such as expiring Low-Income Housing Tax Credit deals, refinancing of tax-exempt bonds, RAD-eligible properties, HUD Section 8 HAP Contract properties, existing Rural Housing Services Section 515 loans, and loans insured under Sections 202 or 236 of the National Housing Act.

 

  •  Flexible loan terms, and fixed- or variable-rate financing options
  • Flexible underwriting to specific affordable developments
  • 5 – 30-year terms

 

Eligible Uses

  • Acquisition
  • Refinance
  • Rehabilitation

 

 

FHA Section 221(d)(4)

CPC Mortgage Company is a MAP-approved lender. The 221(d)(4) product is a fixed-rate construction and 40-year permanent loan covering the substantial rehabilitation or new construction of a multifamily property.

 

  • Multifamily construction or substantial rehabilitation financing
  • 40-year terms
  • Northeast Region and others on case-by-case basis.
  • Minimum loan size: $2 million

 

Eligible Uses

  • New Construction
  • Rehabilitation

 

 

FHA Section 223(f)

CPC Mortgage Company is a MAP approved lender. This loan product is for the purchase or refinance of existing multifamily housing with rehabilitation work allowed.

 

  • Multifamily refinance and acquisition
  • Long-Term fixed rate
  • Up to 90% LTV

 

Eligible Uses

  • Acquisition
  • Refinance