Greystone, a provider of multifamily loans, premiered its Greystone Affordable Loan Program, which provides long-term, fixed, forward rate-lock financing for affordable multifamily housing.
The new loan program offers 15- or 30-year term non-recourse mortgages for loans with a minimum value of $1 million.
"We’re seeing more demand from borrowers as the affordable housing market matures, but there are few competitive financing solutions available today," said Jeff Englund, managing director and head of Greystone’s Affordable Housing group. "Greystone’s Affordable Loan Program fills a widening gap in the affordable housing lending sector, while at the same time, we continue to offer a full spectrum of lending options through our traditional GSE platforms to meet our borrowers’ financing needs."
