Affordable Housing Lending

Access to quality and affordable homes is a critical component to creating healthy communities. Cinnaire Lending offers a broad toolkit of products to support housing development. Leveraging Low-Income Housing Tax Credits (LIHTC), we are able to finance affordable real estate projects that create opportunities in low-income communities. 

With more than 28 years in LIHTC funding, we can successfully navigate the challenges in affordable housing development that many traditional lenders consider insurmountable. We understand the dynamics of affordable housing lending and can move complex transactions from concept to completion. Since 1993, Cinnaire has funded more than 800 affordable housing developments including more than 50,000 affordable apartment homes throughout the Midwest and MidAtlantic states.

Affordable Housing Financing Solutions - Loan Products

Pre-Development Loans

We support the vital first steps for our development partners as they lay the groundwork for community energizing projects. These loans are typically used for land acquisition, third-party due diligence costs, architectural and consulting fees, and other up-front costs.

Acquisition Financing

Revitalizing existing housing is an essential aspect of solving the affordable housing shortage. Cinnaire offers short-term financing for acquiring affordable multifamily properties and, if necessary, funding immediately needed health and safety repairs.

Permanent Financing

Sometimes a simple, straightforward loan package is just what’s needed. Our conventional and FHA financing for affordable housing, both immediate and forward commitment, are tried-and-true products to achieve that goal. And while titled “conventional,” our lending experts are highly creative in structuring and packaging permanent financing to best suit the needs of our development partners.


Flexible Financing

Our lending professionals take pride in crafting innovative, customized solutions that address the unique needs of each project, including sponsoring Affordable Housing Program applications with the Federal Home Loan Bank of Chicago for gap financing.

Cinnaire has underwritten over $400 million in 575+ community development loans

Federal Home Loan Bank of Chicago Affordable Housing Program

Cinnaire is a member of the Federal Home Loan Bank of Chicago, or FHLBC, giving our clients access to its full suite of products. An important product for rental properties is the Affordable Housing Program, or AHP, which awards grant subsidies of up to $900,000 through a competitive process. These valuable grants, which do not have to be paid back, provide gap funding for affordable rental properties and dovetail well with LIHTC funding.

Lending - Chicago
For more information on our Affordable Housing Lending, contact:
Headshot of Sarah Greenberg

Sarah Greenberg

President, Cinnaire Lending
(608) 350-2025