SS Multifamily Memo 18-02mf

Date: March 1, 2018 

MULTI-FAMILY GUIDE REVISIONS: CONTACT MULTI-FAMILY 

ALASKA ENERGY REVOLVING LOAN PROGRAM
Eric Havelock, Lending Officer II, Mortgage Operations 

Loan Terms – Debt Service Coverage Ratio
(Section 1000.05.D) 

Effective with the date of this memo, Section 1000.05 is expanded to include Section 1000.05.D, which states: 

All loan amounts must be supported by a debt service coverage ratio of 1.20 or greater. The DSCR is calculated by dividing the anticipated energy savings by the loan payment amount.

Criteria – Loan-to-Value
(Section 1000.06.B) 

Effective with the date of this memo, Section 1000.06.B is expanded to read as follows: 

A maximum or minimum loan-to-value is not required; however, in cases where real property is being offered as collateral, in no instance may the loan to value exceed 100% of the real property being appraised. 

Criteria – Security
(Section 1000.06.C) 

Effective with the date of this memo, Section 1000.06.C.2 is expanded to read as follows: 

Other collateral, as deemed appropriate by AHFC, which may include a deed of trust, secured in first-lien position, on the building that is the subject of the energy efficiency loan and the real estate on which the building is located. 


GUIDE REVISIONS: CONTACT MULTI-FAMILY

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