LIHTC Equity Bridge Loans

Requirements

LIHTC Equity Bridge Loan	Requirements
LIHTC Type	Must be federal LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. .
Lender Eligibility	The LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. equity bridge lender must not be on ACheck ACheckLender due diligence performed for the Borrower, Key Principal, and Principal using the ACheckTM application. .
Repayment	Must be completely repaid on or before the final LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. equity payment associated with the Property's Property'sMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). placed-in-service date.
Amount	Maximum of 80% of aggregate LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. equity contribution. Per Part III, Chapter 7: Multifamily Affordable Housing Properties, Section 703.02E: Initial LIHTC Equity , you must ensure at least 20% of the aggregate LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. equity that the LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. investor or syndicator must contribute into the limited partnership is received by the Mortgage Loan Origination Date Mortgage Loan Origination DateDate you fund a Mortgage Loan to the Borrower. .
Funding Conditions	No performance hurdles or Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). performance benchmarks tied to bridge loan payments.
Note	Non-recourse to Borrower BorrowerPerson who is the obligor per the Note. . Fixed or variable rate.
Guaranty (Repayment and/or Completion)	Must be subordinated to any Guaranty GuarantyPayment Guaranty, Non-Recourse Guaranty, or other guaranty by a Guarantor for the Mortgage Loan. in favor of Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! .

Bridge Loan Collateral Types (multiple types allowed)	Bridge Lender Affiliated with You or LIHTC Investor	Bridge Lender Unaffiliated with You, LIHTC Investor, or Sponsor	Bridge Lender Affiliated with Sponsor
Assignment of Rights to Capital Contribution from LIHTC Equity Investor	Acceptable	Acceptable	Unacceptable
Assignment of Development Fee	Acceptable	Acceptable	Acceptable
Subordinate Security Instrument	Unacceptable	Unacceptable	Unacceptable
Assignment of General or Limited Partnership Interests (but not both)	Acceptable if Bridge Lender has LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. experience	Acceptable if Bridge Lender has LIHTC LIHTCFederal program offering tax credits to owners of eligible properties that contain low-income occupants and rent restrictions. experience	Acceptable for general partnership Interests Unacceptable for limited partnership Interests
Subordination Agreement	Form provided by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!!	Form provided by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!!	Form provided by Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!!