Our SAGE Homes Loan Program includes below market-rate, flexible loans for small to mid-size affordable and workforce housing developments (including mixed use developments).
Loans can be used for:
- Green Pre-Development
- Gap funding
- Equity type investment options
- Credit enhancement options
SAGE Homes Loan Terms
For further detail on terms of financing contact SELF.
SELF is NOT a Primary Mortgage Lender.
Who can apply? Landlords or Developers of affordable and workforce housing including mixed use housing. A minimum of 30% of residents must be LMI with up to 140% average median income (AMI).
- For-profit and non-profit multifamily residential properties 5-25 residential units
- Properties must be inclusive and affordable with a minimum of 30% for LMI residents low-to-moderate income (LMI) residents defined as households earning 30-140% of Average Median Income
- Non-profit entities must have proof of tax-exempt status
- Must provide proof of ability to meet minimum 1.25 debt service coverage ratio
- Property must be located in SELF’s Geographic footprint *
Learn more about flexible loans for small to mid-size affordable and workforce housing developments.
To receive more information and speak to a SELF representative please fill out the following form:
Supporting Sustainable and Resilient Affordable Housing
The “SAGE” Homes Loan Program supports developers and landlords seeking to create or preserve resilient, affordable and workforce housing with higher energy efficiency and resiliency standards that will ensure long term affordability, resilience and health for all.
The SAGE Homes Program offers flexible financing options and includes energy and resiliency features that enhance housing without adding cost burdens to developers or residents.
Loans under the SAGE Home Program can be used for pre-development; new construction or rehabilitation of Naturally Occurring Affordable Housing (NOAH) properties. Solar PV and Energy Efficiency improvements are also funded through the SAGE Home Loan Fund.
Solar loans are repaid from cash flows + energy cost savings, and projected energy savings on these loans will be verified by a qualified third-party service provider approved by SELF.
A “SAGE” person is someone profoundly wise. SAGE homes refers to ‘wise’ homes which are those that have built in climate resiliency, energy efficiency, clean energy (Solar) technologies and water conservation measures that will enable sustainable, safe, healthy and affordable homes.