Rates and fees for Multi-Family Loans and Housing Credits

*An Application Fee is due for each application and time that a project goes before the VHFA Board of Commissioners for approval or reapproval.
**Commitment Fee due when commitment is signed and credited to documentation/closing or reservation fees if the loan closes.
***PUPY C=Per Unit Per Year During Compliance, PUPY E= Per Unit Per Year During Extended Use Period.
****Origination fee varies based on the loan amount.
*****This fee is for Non-LIHTC Projects that request an SLR from VHFA or for LIHTC projects where more than one Subsidy Layering Review needs to be completed. 

Borrower shall pay for all third-party expenses and legal expenses related to the loan, regardless of whether the loan closes, including but not limited to, expenses related to construction oversight, inspections, and appraisals, and legal fees for itself and for Lender (which may be provided by Lender’s in-house legal department). The amount of Lender’s Legal Expenses that will be charged to Borrower will be either those charged by a private law firm or based on the time and effort spent by personnel in Lender’s legal department and expenses incurred related to the closing of the loan. These expenses may be lower if the financing is less complicated or completed more quickly than expected, or higher if the financing is not completed in the amount of time estimated and/or requires greater participation by Lender’s legal department than anticipated.