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 Developers
Mile High Community Loan Fund offers several loan options to encourage development of affordable multifamily properties and for-sale development in the Denver metro area, as well as the Front Range and mountain communities.
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). Our loan products are available to nonprofit, for profit developers and 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.)
- Term of loan – 12 months (pre-development); 24 months (acquisition, bridge, construction); 60 months (mini-perm)
- Collateral – All loans (except certain predevelopment loans) are secured with deeds of trust on real property and personal guarantees.
- 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.
Erika Lindholm, Loan Programs Director
303-860-1888 ext 4
Jeff Seifried, Executive Director
303-860-1888 ext 5