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L.A. County Housing Innovation Fund II

Century is a member and loan originator of the Los Angeles County Housing Innovation Fund II, a site acquisition and predevelopment loan fund for affordable development in the County of Los Angeles with a loan-to-value ratio of up to 100%. Century manages your loan from application to closing, providing the responsive and reliable service you know and trust.

Get started today using the quick qualify form or call Josh Hamilton at (310) 642-2030 to see how Century can help get your project off the ground.

L.A. County Housing Innovation Fund II Description

Loan to Value

For-Profit Borrowers: Up to 95%. Nonprofit Borrowers: Up to 100%.

Eligible Uses

Financing for acquisition and predevelopment of multifamily affordable rental housing in Los Angeles County.

Loan Amount

Up to $15,000,000

Term

Up to 6 years.

Affordability

All units must be affordable to households with incomes at or below 60% of Area Median Income.

Pricing

Fixed or variable, typically LIBOR plus 400–600 basis points with a floor between 5.5%–6.5%. Loan fees include origination fees, administrative fees, legal documentation fees, and the costs of third party reports.

Security & Collateral

Deed of trust and assignment of rents with full recourse to sponsors.

Download Los Angeles County Housing Innovation Fund II Term Sheet (PDF)