Are You A Multifamily Developer?

At HDF, we partner with multifamily rental and homeownership developers interested in building affordable homes throughout Connecticut. Our commercial loan products include competitive financing and multiple term options.

To date, HDF has provided over $56.8 million in financing to developers who have built over 2,000 affordable rental units.

Our Loan Products for Multifamily Developers

HDF offers developers of rental and homeownership units for low-to-moderate income households a comprehensive set of fencing options.

  • Predevelopment Loans with terms between one and two years.
  • Construction Loans with terms up to two years.
  • Permanent Loans with terms up to thirty years, including conversion of construction loans.
  • Bridge Loans (for committed projects with subsidy sources) with terms up to two years to bridge committed subsidy or permanent financing sources.
  • Multifamily Energy Loans to reduce operating and utility costs 

Eligible borrowers include experienced nonprofit affordable housing developers, Housing Authorities, and private developers of all sizes. The borrower’s financial condition, collateral, value, project feasibility, and ability to repay are equally important components in the underwriting process.

Types of Projects HDF Finances

HDF finances a variety of multifamily developer lending projects, including both rehabilitation and new construction of affordable rental and homeownership units for:

  • Supportive, 
  • Special needs, 
  • Mixed income, and 
  • Mixed use housing. 

Of the tenants living in the HDF-financed properties:

  • More than 80% qualify as low-income, including 27% who qualify as very low-income. 
  • Approximately 68% of the tenants are people of color. 
  • The majority of the renter households are headed by women.

Tenants Living in HDF-Financed Properties

Of the tenants living in the HDF-financed properties:

  • More than 80% qualify as low-income, including 27% who qualify as very low-income. 
  • Approximately 68% of the tenants are people of color. 
  • The majority of the renter households are headed by women.

Learn More About
Building With HDF

Getting Started With HDF

The HDF Commercial Multifamily Lending/Development team can help you determine whether you are eligible for financing. To get the process started…

To get ready for a meeting with our team, please take time to review the eligibility criteria and financing specifications for our loan products. Contact the Commercial Multifamily Lending/Development team to learn more.

Our Partners For Finacing Multifamily Rentals

HDF works with a wide network of banks that support low-income housing in Connecticut. Our partnering banks include: