Nashville-based Pathway Lending is expanding its product offerings by partnering with the Tennessee Bankers Association and its member banks to provide developers a  financing option for new construction and the rehabilitation of affordable multi-family housing communities.

As part of the program, Pathway Lending will also work with the Tennessee Housing Development Agency, which aims to create quality affordable housing throughout the state.

The program, which the TBA board of directors approved May 6, will provide a long-term, fixed-rate source of first-lien permanent financing that will be leveraged with federal low income  housing tax credits. [Read more…]