Acquisition & Bridge Loans

Empowering Your Development

At Century Housing Corporation, our commitment to housing development starts at the beginning. Our specialized acquisition loans empower developers to purchase their ideal site, either land or an existing property. Bridge loans support predevelopment expenses, with terms similar to acquisition loans.

Discover how Century Housing can provide the financial foundation for your development.

Acquisition & Bridge Loan Terms

Loan-to-ValueUp to 100%. Century typically provides loans at 90% LTV (lesser of appraised value or purchase price) with consideration for higher leverage depending on location, experience, market dynamics, and availability of special funding sources like the Golden State Acquisition Fund.
Eligible UsesLoan proceeds may be used for the acquisition of land, existing developments conforming with Century’s affordability guidelines, adaptive reuse developments, and predevelopment expenses.
Loan Amount$1,000,000 to $50,000,000
Origination Fee1.0% to 2.0% depending on loan size.
Interest RateVariable or fixed
Loan TermUp to 5 years, including extensions; Century does not charge prepayment penalties.
Interest ReserveAn interest reserve will be capitalized at closing.
AffordabilityDevelopments must be affordable to households earning not more than 120% of AMI.
Mixed-Use ProjectsMixed-use projects are eligible.
BorrowersNonprofits, for-profits, cities, counties and other public agencies within California, and joint ventures comprised of these entities, with a track record of developing affordable housing.
CollateralA first deed of trust in favor of Century upon the real property being acquired. Loans are recourse.
FeesApplication (refundable), up to $10,000. Legal, up to $20,000. Administrative, up to $1,000. Appraisal, market price.
Third-Party ReportsAppraisal (Century-ordered), phase I environmental, physical needs assessment, and soils, as necessary.
Timing30–45 day closings are typical, from receipt of application fee.
Financial ReportingPast 3 years of compiled or audited financial statements.

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