Rates and fees for Multi-Family Loans and Housing Credits

Multi-Family Fees

Type of Application Application Commitment* Origination Reservation Compliance Monitoring** Documentation/ Closing
Pre-development $100 $600 N/A N/A N/A N/A
Construction & Bridge $500 $3,500 N/A N/A N/A $3,500
Permanent $500 $5,000 1-1.50%*** N/A N/A $3,500
Housing Credits $500 N/A N/A 4% $108 PUPY C, $60 PUPY E N/A
Refinance $500 $5,000 1-1.50%*** N/A N/A $2,500
Modification $250 $2,500 $1,000 N/A N/A $1,500

*Commitment Fee due when commitment is signed and credited to documentation/closing or reservation fees if the loan closes.
**PUPY C=Per Unit Per Year During Compliance, PUPY E= Per Unit Per Year During Extended Use Period.
***Origination fee varies based on the loan amount.

Other fees paid by borrower include but are not limited to construction inspection fees of lender and other third-party expenses (e.g. appraisal, etc.).

Multi-Family Interest Rates

Learn More About VHFA's Multi-Family Programs.

The following are indicative rates as of 2/23/2021. These rates are subject to change at any time without notice. VHFA lending programs are subject to underwriting and eligibility criteria. Final rates for any specific transaction may vary from the rates set forth below.

Predevelopment Loan Rate
Predevelopment Loan
Construction Loan Tax Exempt Taxable
2.79% 3.61%
Fixed Six Months
2.43% 3.16%
Fixed One Year
2.38% 3.10%
Fixed Two Years
2.48% 3.21%
Permanent Loan Tax Exempt Taxable
10 Year Term / 30 Year Amortization
3.10% 3.96%
15 Year Term / 30 Year Amortization
3.32% 4.23%
30 Year Term / 30 Year Amortization
3.70% 5.49%