Here are just some reasons why you should use MHP to make your multifamily affordable rental housing rental development work:
Flexible: We are not a one-size fits all lender. We tailor our loan terms to fit your needs.
Efficient: We understand projects using multiple funding sources. We make timely loan decisions and use systems like OneStop, OneSource and MassDocs to reduce paperwork and hold down costs.
Affordable financing at any scale: Partnerships with Fannie Mae and other institutional lenders gives us the ability to offer you better pricing on more flexible terms.
Respected: We have years of experience working with borrowers, developers, the state, cities and towns, banks, tax-credit syndicators and other housing lenders.
Forward commitments: We can lock the rate for permanent loans for up to 30 months, with the cost built into the loan rate.
Financing for Tax Credits: We provide more new debt financing for tax credit properties than any other lender in Massachusetts.
Preservation: We are experts in financing all types of existing affordable housing developments, including expiring Section 8 contracts, tax credits and Section 202 and 236 properties.
Chapter 40B: We issue "Project Eligibility Letters," which developers need to begin the comprehensive permitting process at the local level.
With you for the long run: Our experienced Portfolio Management team will work with you from the day your loan is closed to the day you pay it off.