Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
Contact Us
Loan Programs for Affordable Housing Developers
Mile High Community Loan Fund offers loans to developers of affordable housing (both rental and for-sale) in Colorado.
These loans can fund expenses related to predevelopment, acquisition, construction or renovation of housing units affordable to individuals and/or families at 80% or less of Area Median Income (AMI). MHCLF's loans are available to non-profit and for-profit developers as well as housing authorities.
Terms
- Loan amount – Up to $1,000,000 (Note: MHCLF can exceed this amount under certain circumstances through loan participations with other community development lenders.)
- Maximum Loan Term – 24 months (predevelopment, acquisition, bridge, construction); 84 months (mini-perm)
- Collateral – All loans (except certain predevelopment loans) are secured with deeds of trust on real property.
- Minimum processing time – 20 business days
- Origination fee – Ranges between 0.5% and 2%
- Interest rate – Ranges between 5% and 10%
We understand that each project is unique and work with you to make sure your loan fits your needs. As such, we encourage you to contact us with any questions or before filling out the application.
Sarah Archibald , Director of Lending
303-860-1888 ext 2
Jeff Seifried, Executive Director
303-860-1888 ext 5