Century Housing Corporation’s construction loans are the cornerstone of building multifamily developments that contribute to the supply of affordable and workforce housing. These loans cover essential construction expenses, ensuring developers have the financial support necessary to create much-needed workforce and affordable housing in our communities.
| Loan-to-Value | Up to 75% |
| Loan-to-Cost | Up to 75% |
| Purpose | Loan will be used for construction costs for multifamily development with rents at or below 120% of Area Median Income. |
| Loan Amount | $1,000,000 to $27,000,000 |
| Loan Term | 12–24 months (extension options available) |
| Pricing | Variable. Loan fees include origination fees, administrative fees, legal documentation fees, and the costs of third-party reports. |
| Repayment | Repaid through permanent financing. Interest reserves funded from the loan proceeds to provide debt service during construction. |
| Funding | Progress-based, released after work is completed. |
| Security & Collateral | First Deed of Trust and Assignment of Rents. Full recourse to the development sponsors. |
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Century Housing Corporation is a nonprofit Community Development Financial Institution financing affordable housing development throughout California. Century Villages at Cabrillo, Inc. and Century Affordable Development, Inc. are independent nonprofit entities affiliated with Century Housing Corporation.
