Work with our experienced lenders to get your LIHTC project approved and closed quickly.

Stearns Bank has built a solid reputation in their knowledge of the Low income Housing Tax Credit (LIHTC) program over the past 30+ years. In today’s market securing your equity partner and locking in construction costs are key to a successful project. We can save you time and money by providing financing to start construction sooner. Simply put, we will get the job done for you!

  • Standardized loan documents for most syndicators
  • Work directly with decision makers for fast approvals
  • We go where you go nationwide both rural & urban
  • We tailor loans to what is needed to get the project completed on time and on budget
  • Construction Loan Guidelines:
    • All loan amounts are considered
    • Rates & terms are fully negotiable, terms are typically 12 – 24 months
    • Competitive closing costs with in-house documentation to minimize legal fees
    • Fast loan closings in 2 – 6 weeks with all required docs (Appraisal, ALTA survey, and title insurance generally determine the number of days to close)
    • Flexible, allowing time for stabilization and rent up
    • Mini-perm loans are also available

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