Special Purpose Mortgages

Special Purpose Mortgages

Multifamily Mortgage Loans For Specialty Properties

Affordable Housing Multifamily Mortgage Loans

Affordable Housing Loans

Our special purpose mortgages for affordable housing are available for most types of multifamily affordable housing projects, including garden apartments, mid-rise and high-rise apartments, multifamily new construction and substantial rehabilitation of existing multifamily properties. Forward commitments, Low Income Housing Tax Credits and tax exempt bond credit enhancements are available. Find out more about our Affordable Housing Loans

Seniors Housing Loans

Our special purpose mortgages for Seniors Housing provide multifamily mortgages for existing, stabilized Seniors Housing properties that offer independent living or assisted living, with or without Alzheimer’s care. We offer special purpose mortgages for Seniors Housing insured by HUD, Fannie Mae and Freddie Mac. We also offer bond credit enhancement for non-profits and affordable seniors housing facilities. Find out more about our Special Purpose Mortgages For Seniors Housing Loans

Special Purpose Multifamily Loans For Seniors Housing
Special Purpose Mortgages For Cooperative Housing Mini Banner

Cooperative Apartment Loans

We offer special purpose mortgages to finance multifamily coop projects that provide competitive financing options for properties in which the residents own the land and buildings through their share of the coop corporation. The cooperative corporation grants occupancy rights to the shareholder occupants through proprietary leases. Contact us to discuss special purpose mortgages for Coop Apartment projects.

Low Income Housing Tax Credits

Our special purpose mortgages for multifamily affordable housing projects can be combined with both 4% and 9% Low Income Housing Tax Credits (LIHTC) to create complete special purpose financing solutions for multifamily affordable housing construction projects. Find out more about financing using Low Income Housing Tax Credits (LIHTC)

Special Purpose Mortgages LIHTC Tax Credits Mini Banner

Mortgage Loan Case Studies

Fannie Mae Multifamily Affordable Housing Loan Houston Texas

Fannie Mae Multifamily Affordable Housing Loan

Provided $9,300,000 Fannie Mae multifamily affordable housing loan for Class C apartments in Houston Texas.

Fannie Mae apartment loan Texas for Concord At Little York apartments

Fannie Mae Apartment Loan Texas Case Study

Originated $13,000,000 Fannie Mae apartment loan Texas for Concord at Little York apartments Houston Texas.

FHA Apartment Loan Arizona Starrview at Starr Pass

FHA Apartment Loan Arizona Starrview at Starr Pass Tuscon

Refinanced FHA apartment loan in Arizona with FHA 223a7 for Starrview at Starr Pass in Tuscon Arizona

FNMA Affordable Housing Finance LIHTC Houston Texas Shoreham Apartments

FNMA Affordable Housing Loan LIHTC Tax Credits Houston TX

Combined LIHTC tax credits with $3,600,000 FNMA affordable housing loan for Houston multifamily project.


Special Purpose Mortgages Takeaways

In addition to apartment loans and healthcare mortgages, Apartment Financing America offers several special purpose mortgages guaranteed by Government Sponsored Enterprises.

GSE guaranteed mortgages are always available, regardless of capital market volatility, for property types considered essential to the national interest, including mobile home park loans, multifamily affordable housing loans, low income housing tax credits, seniors housing loans and financing for coop apartments. GSE guarantees reduce the lender’s risk, which allows us to offer more attractive terms and very low mortgage rates.

Loan Types Discussed

Mobile Home Parks

Mobile homes are often sited in land lease communities known as mobile home parks or manufactured housing communities. These communities allow home owner residents to rent the pad site on which to place a home. In addition to providing the pad site, the community typically provides basic utilities and paved roads. Mobile home parks also frequently offer amenities such as garbage removal, community rooms, pools, and playgrounds.

There are more than 38,000 mobile home parks in the United States each providing from 5 to over 1,000 home sites. Although most serve basic housing needs, many mobile home parks serve particular segments of the market. Many serve as retirement communities, restricting residents to those age 55 and older.

Newer generation manufactured homes tend to be built to much higher standards than their predecessors and meet the building codes for most areas. This has significantly reduced the depreciation in the value of most used units. Newer manufactured homes are larger, often being comparable to site built homes.

Additionally, modern manufactured homes tend to be built from materials which are comparable to materials used in site-built homes rather than inferior, lighter-weight materials, and are more likely to physically resemble site-built homes.

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