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.
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.
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.
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.