M&T RCC and City Partner to Offer Affordable Housing

M&T RCC and City Partner to Offer Affordable Housing

M&T Realty Capital Corporation (M&T RCC), based in Baltimore, has formed a correspondent relationship with City First Bank, located in Washington D.C., to expand lending options for multifamily housing projects. As the largest Black-led Minority Depository Institution in the U.S., City First Bank will now have access to M&T RCC’s Fannie Mae DUS, Freddie Mac Optigo, and FHA lending capabilities. This partnership aims to offer competitive products and terms for City First Bank’s borrowers – primarily minority developers and investors – promoting affordable housing development and retention.

In 2022 alone, City First Bank provided $173 million worth of new loans for multifamily affordable housing projects that created or preserved 1,463 units. Additionally, they lent $61 million to 19 African-American-owned or led organizations. This collaboration between M&T RCC and City First Bank is expected to further support their efforts towards providing affordable housing solutions.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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