| Uses | NIIF acquisition loans are for the purchase of vacant land and buildings planned for future development, preservation of affordability, or other redevelopment/reuse activities, for both residential and commercial development. |
| Loan amount | Up to $3,000,000 |
| Loan term | Up to 36 months, may be longer for significant redevelopment programs |
| Interest rate and repayment |
From 5.0%, subject to underwriting Generally interest-only; an interest reserve may be required |
| Collateral/security | First or subordinate liens on the property being acquired
Generally loan to value (LTV) ≤ 90% of “as-is” appraised value. Non-profit sponsors may be eligible for higher LTV, subject to underwriting |
| Repayment source | Construction or permanent financing, depending on project type and timeline |
| Fees |
Commitment fee — $1,000 Origination fee — Up to 1.50% of loan amount Third party legal fees and other third-party fees as incurred |
| All terms are estimated and subject to periodic revision, at NIIF’s sole discretion. Inquiries or questions may be directed by email to Lori Glass, Chief Lending Officer , at Lori@Baltimoreniif.org. | |
Acquisition Loans
