Churchill Stateside Group Announces the Availability of a New Fixed Rate Forward Perm Loan for LIHTC Properties
The product, a fixed rate forward permanent loan is designed for new projects using 9% low income housing tax credits (LIHTC) and the rehabilitation of older properties where 4% credits are being used.
CLEARWATER, Fla., Feb. 7, 2019 /PRNewswire-PRWeb/ -- Churchill Stateside Group, LLC (CSG), a real estate and renewable energy financial services company, today announced a new loan product for the multifamily low-income housing development industry. The product, a fixed rate forward permanent loan is designed for new projects using 9% low income housing tax credits (LIHTC) and the rehabilitation of older properties where 4% credits are being used. The product offers competitive rates and terms with a 24 to 30-month forward period and a 35-year amortization.
Keith Gloeckl, CEO of CSG said, "this product is designed to work well with our construction loan products and can provide the borrower with a seamless execution with one underwriting and processing team." Bob Stout, CSG's National Director of Originations and Acquisitions added, "Developers with time sensitive projects will also appreciate the 60 to 90-day processing time from initial application to closing."
For additional information borrowers are urged to call their CSG regional originations officer or contact Bob Stout at [email protected]. Additional information is also available at http://www.CSGFirst.com/resources.
About Churchill Stateside Group
Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. With over $1 Billion under asset management, CSG has long-standing and successful investment relationships with numerous corporate investors and pension funds. The company's investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.
For more information, please visit http://www.CSGfirst.com.
SOURCE Churchill Stateside Group, LLC
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