Affordable Housing Finance

Safe, secure, affordable housing provides a foundation that allows individuals, families, and communities to thrive. Our experience in the Low-Income Housing Tax Credit (LIHTC) arena demonstrates our commitment to this program. We have financed more than $1 billion in affordable housing loans since the program began in the 1980s.

LIHTC - Low Income Housing Tax Credit financing

An Understanding Of LIHTC

LIHTC provides tax credits to private investors to support the development of affordable, multifamily housing in areas of need. In today's market, securing your equity partner and locking in construction costs are key to a successful project. We can make an affordable housing loan work on your timeline.

In-house disbursement on construction and affordable housing loans

Service and Support

In-house disbursement, prompt access to funds

Stearns Bank is experienced in financing residential construction projects and affordable housing. Our in-house construction servicing team efficiently manages change orders, inspections, draws and reporting. We are a national, top-performing bank with unmatched service. At Stearns Bank, your needs come first, and you can count on us for a prompt response.

Summerhill Apartments

Stewart Boyd and Gerald Fritts

St. George, UT

With David delivering for them when it counted, Stewart and Gerald plan on looking for more commercial financing with Stearns Bank on future projects.

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BusinessSmart checking and market savings from Stearns Bank

Banking That Pays

Checking and savings accounts

Reach your business checking and savings goals faster with simple, smart and rewarding BusinessSmart™ accounts. Earn interest and cash back with the convenience of online and mobile banking.