Merchants Capital President Mike Dury discusses mortgage lending activities for the affordable housing market. Tune in to hear his take on what's ahead.
Michael Dury, President, Merchants Capital. Image courtesy of Merchants Capital
Securing financing for affordable and workforce housing has always been difficult. However, creativity has helped lenders originate the necessary loans to finance these much-needed new or preservation projects. Merchants Capital, for example, secured financing for the development of a nearly $20 million mixed-income workforce housing community in Rochester, Minnesota, using the first-ever Freddie Mac Non-LIHTC forward commitment financing.
In a podcast discussion with Multi-Housing News Senior Associate Editor Laura Calugar, Merchants Capital President Mike Dury describes the affordable housing landscape nowadays and talks about potential new regulations on the horizon, which could mitigate loan risk for developers targeting the low- or working-class income market.
