Acquisition Loans

Uses NIIF acquisition loans are for the purchase of vacant land and buildings planned for future development, preservation of affordability, or other redevelopment/reuse activities, for both residential and commercial development.
Loan amount Up to $3,000,000
Loan term Up to 36 months, may be longer for significant redevelopment programs
Interest rate and repayment

From 5.0%, subject to underwriting

Generally interest-only; an interest reserve may be required

Collateral/security First or subordinate liens on the property being acquired

Generally loan to value (LTV) ≤ 90% of “as-is” appraised value.  Non-profit sponsors may be eligible for higher LTV, subject to underwriting

Repayment source Construction or permanent financing, depending on project type and timeline

Commitment fee — $5,000

Origination fee — Up to 1.50% of loan amount

Third party legal fees and other third-party fees as incurred

All terms are estimated and subject to periodic revision, at NIIF’s sole discretion.  Inquiries or questions may be directed by email to Mark Kaufman, President & CEO, at [email protected].