HCLF wants to be a catalyst for an increase in the quality and quantity of safe and affordable housing units throughout Connecticut. We believe this is a critical component to creating healthy neighborhoods in communities across Connecticut. If you are interested in purchasing and rehabilitating a single or multifamily home or mixed-use property, we offer several different loan products to help finance your dream.
We can finance both purchase and renovation. We offer extensive technical assistance to help borrowers succeed through the process of construction, occupancy or lease-up, and refinance or sale. We can also work with other lenders and programs (you can find examples on our resources page). Contact a loan officer to learn more.
Program Criteria
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The property to be purchased/rehabbed must be located in Connecticut
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The property must include at least one residential unit
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At least 25% of loan proceeds must be used toward rehabilitation of the property being financed
Loan Size
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For qualified applicants, HCLF may fund up to 90% of the lesser of the project’s development budget or the post-rehab appraised value of the property.
Loan Options
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Interest-only construction loans of up to 24 months;
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Mini-Perm loans: up to two-year interest-only construction loan followed by an up to ten- year amortizing loan with balloon payment;
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Construction + Permanent Financing (subject to availability)
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Bridge loans for tax credit financing
Rates and Fees
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Contact a loan officer for current interest rates
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Application fee of $250 due with application; commitment fee of 2-3% at closing
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Appraisal commissioned by HCLF, paid for by loan applicant
Contact a loan officer to learn more.
