greater
minnesota housing fund
Interim Loans
• Predevelopment
Loans
To plan and design, package
financing, and manage development.
• Acquisition Loans
To purchase land or buildings. Priority
given to preservation projects with expiring federal or state
subsidies.
• Low Income Tax Credit Bridge Loans
Interim financing
when permanent financing has already been committed.
• Construction Loans
Construction financing to support
the production of affordable starter homes.
Eligible Projects
• New construction, acquisition/rehabilitation
• Homeownership (limited to 80% of statewide median income)
• Multifamily rental and permanent supportive housing (limited to 60% of
statewide median income)
Eligible Borrowers
Non-Profit,
For-Profit and Public Agency Developers
Interim Loan Product Term Sheet (download
.pdf)
How to Apply
1. Call or Email
GMHF Staff to discuss your project and financing needs:
a.
Single-Family Projects:
Amy
McCulloch, Vice President of Programs, 651-221-1997,
Ext. 114
b. Multifamily and Supportive Housing Projects:
Amy
McCulloch, Vice President
of Programs, 651-221-1997, Ext. 114
2. Complete Interim Loan Application
(download
fillable pdf) and email it to your staff contact.
3. Once a complete application is submitted, expect
30-60 days to complete underwriting and approval
by the GMHF
Loan Committee and Board of Directors. |
Supporting
the creation of affordable housing
for Minnesota's working families. 
