Since 2005, LHT has provided 25 loans to developers totaling $2,945,324 that were leveraged to provide $86,362,606 in community development investments in the Lowcountry.

The Lowcountry Housing Trust provides financing for the production of affordable housing units (homeownership, rental, and transitional housing) through new construction, substantial rehabilitation of vacant units or conversion of non residential buildings to residential use.

  Bridge Loan Gap Loan Permanent Loan
Maximum Term Up to 12 months Up to 24 months Up to 120 months
Interest Rate Lowcountry Housing Trust has interest rates between prime and 4 points over prime
Eligible Borrowers Nonprofit, for-profits, and government entities developing eligible properties
Eligible Activities Predevelopment, acquisition, rehabilitation, construction and permanent
Affordability Requirements At or below 120% of Area Median Income
Security Must be secured, willing to subordinate depending on development feasibility
Takeout Financing Construction or Permanent financing commitment required
Debt Service Coverage Minimum of 1.15, with a pre-funded operating reserve on permanent loans
Loan Amounts
  • Minimum loan amount of $10,000
  • Maximum loan amount equal to the greater of $250,000 or 15% of total loan capital
Incentives
    Interest Rate Discounts:
  • Up to 0.5% for developments at 80% of area median income and below
  • Up to 1% for developments at 60% of area median income and below
  • Up to 0.5% for developments that are certified energy efficient by LEEDS, Green Communities, Earth craft, Energy Star and NAHB
Payment Interest-only through construction; principal due in full upon construction completion. Financing may cover prefunded interest reserve Equal monthly payments of principal and interest
Application Fee $250 Non-refundable fee
Origination Fee 1.5% of loan amount due at closing
Late Fee 5% of the amount past due after 10-day grace period

 

Recent Success Story

Neighborhood Stabilization

LHT has provided $7,409,679 in development loans to local developers and municipalities for the acquisition and rehabilitation or...

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