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Affordable Housing Finance

“Wells Fargo has been a great partner in the affordable housing world.”

Ron Moelis, CEO of L+M Development Partners, Inc.

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What we do

Tax credit equity investments

We invest directly in individual projects and with third party syndicators in funds that support affordable housing development for a minimum 15-year investment term.

Short-term construction and bridge lending

Eligible rental properties usually have the majority of rents at 60% or less of the area median income (AMI). 

  • Loan term: Up to 30 months
  • Loan-to-value (LTV): Up to 80% construction; 75% for-sale
  • Equity is required, but public loans, grants, and Low-Income Housing Tax Credits (LIHTC) investor equity may be substituted for developer equity in some cases

Permanent loan program

Balance sheet loans for 4% private placement and 9% LIHTC projects, in which Wells Fargo provides the equity and/or construction financing. Loans remain on balance sheet or are presold to other lenders at conversion


Nonprofit and for-profit developers and investors with a solid net worth, sufficient liquidity, and industry experience.

Additional Services 

Fannie Mae and Freddie Mac loan programs 

Properties must involve 4% or 9% LIHTC, Section 8, Section 236, regulatory agreement, or 80–20 bonds

FHA/HUD loan programs

Specific transactions may warrant more conservative underwriting

Loan and investment size

More than 5 million dollars; smaller amounts considered on a case-by-case basis.