Investing in positive change.

We’re a nationally recognized investor and lender in the new construction and renovation of affordable rental housing. For more than three decades, our financing has helped provide stable, quality places to live for those who need it most.

$18.6 billion

Low Income Housing Tax Credit equity

$4.15 billion

Current affordable housing loan commitment

116,994

Housing units financed through our affordable housing team

*Data as of September 30, 2024

Create inclusive communities with Low Income Housing Tax Credit solutions from our experienced team.

Affordable housing is about more than just buildings. It’s about investing in people. We are proud to help create residences for unhoused people, seniors, veterans, LGBTQ+ individuals, and those experiencing struggles with mental health or addiction.

Tax credit equity

We have been at the forefront of all things related to the Low Income Housing Tax Credit (LIHTC) since 1989, partnering with real estate developers who build and rent multi-family housing to those making 60% or less of their area’s median income.

  • Federal tax direct investments
  • State tax direct investments
  • Multi-investor fund investments
Explore tax credit financing

Affordable housing debt

Impact Finance has completed hundreds of debt deals totaling several billions of dollars over the years. These deals have supported the creation of tens of thousands of affordable housing units across the nation.

  • Construction loans
  • Permanent loans
  • Acquisitions or refinances to preserve existing affordable housing

Trusted experts

Our team has been making direct investments or buying 4% bonds directly for more than three decades. Investors and developers value our presence in funds and projects for many reasons, including:

  • Depth and breadth of experience
  • Diverse product offerings
  • Proven success across different deal types and structures
  • Respected leadership in the industry
Light-rail train passing in front of a four-story apartment complex.

Project types we’ve closed recently.

We are proud to be involved in projects in low- and moderate-income communities from coast to coast. Whether your deal is highly complex or more routine, rely on us to add value. A small sample of our recent projects is presented below.

  • 9% + 4% combo deals
  • Condominium structures with a New Markets Tax Credit element
  • Scattered-site RAD portfolio renovation
  • Historic renovations with state and/or federal Historic Tax Credits
  • Modular-built, mid-rise infill
  • Projects for transition-age youth, veterans and those with a right to return

Affordable housing solutions FAQ

We finance affordable housing developments that include tax-exempt bonds or Low Income Housing Tax Credits (LIHTC).

We are an established leader in deploying impact capital dollars and providing loans and equity commitments to people of color (POC):

  • Access Commitment is the bank’s long-term approach to supporting communities of color. You can learn more about U.S. Bank Access Commitment by visiting usbank.com/access.
  • U.S. Bank has committed to a $100 billion community benefits plan (CPB) to support equitable access to capital for communities of color and low- and moderate-income communities. Impact Finance is responsible for approximately one-third of that goal. Details are available in this announcement.
  • As part of our racial equity commitment work, we are aiming to provide financing to POC-owned and -led emerging developers in affordable housing, built on our belief that access to capital creates opportunities for systemic change.

Impact Finance regularly communicates and works with the bank’s corporate social responsibility team to align on our Community Benefits Plan and overall objectives. We work together to make a positive impact on local communities.

Affordable housing stories.

Photo of a sign in front of an apartment complex and the sign reads Hattie Redmond Apartments.

$8.3 million loan supports affordable housing in Portland, Oregon.

The Hattie Redmond Apartments, a 60-unit development, is devoted entirely to permanent supportive housing for people exiting homelessness.

Read about the building
Photo of a woman wearing a hardhat and vest and holding a clipboard as she observes a construction site.

Grants support growth of real estate developers of color.

Impact Finance recently made grants to five nonprofits that give developers of color opportunities to break into the real estate industry.

Read about the grants
Aerial photo showing five residential apartment buildings that are part of the Light Tree complex,

Impact Finance investments bring 185 affordable housing units to the Bay Area.

We invested $56.7 million in LIHTC equity and provided another $56 million in loans toward doubling the size of Light Tree Apartments in Silicon Valley.

Read the story

Let’s work together to make housing more affordable.

Get in touch with the U.S. Bancorp Impact Finance team to discuss the tax credit program and our affordable housing lending solutions and discover how we could partner together to revitalize your community.

Connect with us
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Disclosures

Investment and insurance products and services including annuities are:
Not a deposit • Not FDIC insured • May lose value • Not bank guaranteed • Not insured by any federal government agency.

Deposit products are offered by U.S. Bank National Association. Member FDIC. All credit products offered by U.S. Bank National Association are subject to normal credit approval and program guidelines. Eligibility requirements, other fees and conditions may apply. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice.

Financing maximums and terms are determined by borrower qualifications and use of funds. For deferred payments, interest accrues and is amortized over the remaining balance and term.

U.S. Bank and its representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.