Borrower and property requirements, affordability term, minimum units.
- Property: new or existing rental housing with at least 5 units (retirement homes: 50+ units/beds); standard rental, SRO, supportive and retirement housing. Student housing qualifies through energy efficiency and accessibility only.
- Non-residential space: no more than 30% of gross floor area or 30% of total lending value.
- Points: at least 50 points from any combination of affordability, energy efficiency and accessibility commitments.
- Affordability term (if chosen): minimum 10 years from first occupancy; 20+ years earns 30 bonus points. Affordable rents are at or below 30% of the market's median renter income.
- Borrower: 5+ years managing similar multi-unit rentals (or a professional property manager) and net worth of at least 25% of the loan (minimum $100,000).