Nonprofit Housing Loans

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 Nonprofit Housing Loan Program Description
Eligibility and Terms

Loan Type:  Pre-Development, acquisition, bridge, construction, semi-permanent loans for affordable housing development or preservation projects.  Eligible costs include land or building acquisition, holding period costs, environmental testing, appraisals, taxes, insurance coverage, legal, architectural and consultant fees.

Eligible Borrower:

  • Nonprofit developer with track record of developing affordable housing for either rental or homeownership.   Developer should have a minimum of 2 years experience and 5 properties developed or under management.  Developer must have a demonstrated record of producing quality renovations and maintaining properties under management (a third party inspection will be conducted).
  • Must have a demonstrated desire and commitment to engage with the community and respond to community concerns.

Eligible Properties:

  • 1-4 Family  and  Multi-Family Residential Properties
  • Properties located in low-moderate income census tracts, with priority to properties that are part of a comprehensive community development or are in close proximity to investments by Loan Fund, City of New Haven, and other nonprofit partners.
  • Properties located throughout the Greater New Haven community with demonstrated income restrictions and affordability mechanisms.


  • If housing is in a low-moderate income census tract, then no affordability restrictions
  • If housing is not in a low-moderate income census tract, affordability restrictions may apply

To determine if a property is located in a Low-Moderate Income (LMI) census tract, use the search tool located here:

.  Enter the property address, click “search,” and then click “get census demographic.”


  • Amount:  $25,000 – $250,000+
  • Interest Rate:  range of 6-7% based on GNHCLF cost of funds and project constraints
  • Term: up to 24 months/ 36 months for permanent
  • Amortization:  interest only for short-term loans; up to 20 years for longer term loans
  • Fee:  1 – 2 pts.
  • Security:   First mortgage on subject property preferred, otherwise second position lien on property, corporate guarantees, cash collateral, Letters of Credit, and/or first or second position lien on other property owned by borrower or other collateral acceptable to Lender.
  • Repayment Source:  permanent financing (including acquisition or construction financing).

TO APPLY:  Contact Loan Officer, Anne Conners at 203-789-8690 or via email at

Click here for a printer-friendly version of the eligibility and terms information.

Click here to view the application.