AFFORDABLE HOUSING FINANCE

The demand for housing isn't slowing down.

Your financing shouldn't either.

Affordable housing development lives and dies by timing and attention to detail. When things inevitably shift mid-project, we are the partner you can trust to remain steady. Stearns Bank has supported affordable housing developers since 1987. We're still here because we solve the right problems.

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FROM CONCEPT TO STABILIZATION

More homes. Stronger communities.

Funding changes & timelines bend.

You keep projects moving. Our job it to make it easier. Since 1987, more than 40,000 affordable housing units have been built with Stearns Bank financing. Decades of experience have shaped our approach built for your pace: responsive, transparent, and seriously dependable.

AFFORDABLE HOUSING LENDING

Flexible Loan Solutions

Land Acquisition

Early-stage capital so you can secure the right site before anyone else does.

Pre-Development

Cover everything from feasibility to community engagement before anyone lifts a shovel.

Construction & Rehab

Tailored financing and servicing for ground-up and rehab affordable housing projects.

Equity Bridge Loans

Tax credit equity arrives when it arrives. Bridge financing keeps your project moving while you wait.

Debt & Bond Financing

Structured solutions for LIHTC-financed developments, including mini-perms and bond credit enhancements.

Custom Solutions

We know all standard solutions don't fit all situations. Let us know how we can help.

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Recent Projects

Bloom Apartments

Fort Myers, FL | 336 Units

A mixed-income community offering affordable and workforce housing for families.

Shortstack Housing

Portland, OR | 44 Units

A replicable "missing middle" model maintaining affordability and mass timber construction.

Park Place at Addison Road

Capitol Heights, MD | 193 Units

Proof that public-private partnerships can deliver mixed-income development next to the Metro.

Donna Louise Apartments

North Las Vegas, NV | 48 Units

Affordable senior housing near a retail center in the growing city of North Las Vegas.

DEPOSITS & TREASURY MANAGEMENT

Banking Solutions. Built for Developers.

Payments & Transfers

Same-day ACH, wires, and invoicing. Move money when you need to whether the bank is open or not.

Cash Management

Automated sweeps and lockbox services to keep idle funds working and payments flowing.

Fraud & Risk Protection

Positive Pay, identity protection, and account controls that safeguard both lender and borrower interests.

Remote Deposit Capture

Deposit checks from anywhere. Skip the branch visits.

Short-Term CDs

Earn competitive rates while keeping liquidity for your project timeline.

Merchant Services

Accept tenant and partner payments through integrated card processing.

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MISSING MIDDLE HOUSING

Not every housing solution needs to be massive.

Large-scale developments are essential, but for generations, smaller-scale housing (e.g., duplexes, fourplexes, townhomes, courtyard apartments) have quietly sustained more affordable, walkable, and often healthier, neighborhoods.

These “middle” housing types blend into existing communities, often cost less to build per unit, and can deliver faster results. Whether your project creates 300 units or six, both matter to us.

We’re committed to financing housing that right-sized to the community it serves.

About Healthy Communities