Housing Trust of Santa Clara County - Programs

Developer Loans

The Housing Trust of Santa Clara is committed to the creation of new housing opportunities for our regions' seniors, working families, homeless, youth, and people with special needs. See our developer loan map for more details on where we've made investments throughout Santa Clara County.

Our Flexible Multifamily, Developer Loan Program

The Housing Trust of Santa Clara County currently operates a Multifamily Loan program for developers of affordable housing. Loans are available to nonprofit organizations developing affordable housing and for-profit affordable housing developers that are creating housing jointly with nonprofit organizations in tax credit partnerships.

- Loans are available for acquisition, predevelopment, and construction financing.
- Maximum predevelopment (unsecured) loan is $150,000; secured acquisition or construction loans are $500,000.
- A small number of permanent loans are available for permanent supportive housing only.
- Loans have a 2% loan fee and require monthly interest payments. Current interest rate (as of 9/1/09) is 4.5%.
- Developers may only apply for one loan at a time. The maximum amount a developer can have outstanding is $2,000,000.
- Qualifying developments must have 30% of their units affordable to households at 35% AMI and below. All units must be affordable to 60% AMI and below.
- Qualifying developments must demonstrate significant local financial support.
- Qualifying developers must demonstrate capacity and experience in development of affordable, low-income housing.

How To Apply

To apply for a Multifamily Loan, download and fill out the Initial Review Form and the Anti-Lobbying Disclosure form, and submit it along with a cover letter of interest to HTSCC. Developments that meet our guidelines will be sent to underwriting by the Opportunity Fund. Opportunity Fund staff will get in touch with applicants with a complete due diligence list for underwriting. HTSCC's Program Committee will approve all loan applications.

To request program guidelines or to submit application, please contact Kevin Zwick, the Executive Director, at (408)436-3450.

For Initial Review Form, click here.

For Anti-lobbying Form, click here.