The Lowcountry Housing Trust may provide forgivable subordinate mortgage loans when a project cannot support enough debt to fully cover the production cost to make the project feasible.

  Affordable Housing Subsidy
Term LHT subsidy will be a 20-year non amortizing subordinate loan at 0% interest. The loan will be forgiven after twenty (20) years if certain conditions of affordability are met
Interest Rate 0%
Eligible Borrowers Nonprofit, for-profits, and government entities developing eligible properties
Eligible Sponsors NA
Eligible Activities Predevelopment, acquisition, rehabilitation, construction and permanent
Affordability Requirements
  • Units or Households at or below 120% of Area Median Income
  • All units funded by LHT will be subject to affordability controls through a restrictive covenant that limits the property rights of the owner for 20 years
Security The LHT loan will be secured by a promissory note and a mortgage lien on the property
Loan Amounts
  • Maximum loan amount of $25,000 per unit
Application Fee $250 Non-refundable fee
Origination Fee 1% of loan amount due at closing
Security Assurances Appraisal, environmental assessment, title insurance, liability and flood plain insurance, certificate of occupancy, and inspection
Closing Costs The borrower is responsible for the expense of document preparation and closing costs

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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