HVCRE and the 15% equity rule on bank construction loans
Bank construction loans that miss HVCRE's exemptions carry a 150% capital charge. The 80% LTV limit, the 15% as-completed equity test and the exemptions.
Notes
Multifamily construction loans compared, sized and scheduled.
The LIHTC 25% bond test
Public Law 119-21 let 4% LIHTC buildings qualify with 25% bond financing instead of 50%, from 2026. Who qualifies and what it does to the capital stack.
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