Predevelopment Loan

Uses Third-party due diligence, deposits, loan interest, fees and other predevelopment costs

Types of Properties Residential rental, commercial and mixed-use

Loan Amount $25,000 to $200,000

Term Up to 30 months

Minimum Interest Rate 4.5%fixed

Repayment Schedule •Interestonly,payablequarterly•Principaldueatearlierofacquisitionfinancingormaturitydate •Noprepaymentpenalty

Collateral •Recourseto,orguarantyby,NeighborWorksorganization

Fees •Origination:1%ofloanamount;halfpayableatcommitment,balancedueat closing •Third-partyfees,includinglender’slegalexpenses •Feesmaybecapitalized

Subordination N/A

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Terms subject to change. All loans are subject to underwriting and Loan Committee and / or Board approval.

For more information: Mark Knight Director of Lending Phone: 240.821.1651 x 204 Email: mknight@neighborworkscapital.org