Historic Rehab Loan Program

HISTORIC REHAB LOANS

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Historic Rehab Loans Built for Real Projects

Reviving an old building takes vision—and financing designed for the real-world challenges of reuse. Our Historic Rehab Loans release capital when it’s needed most, helping you bring old buildings back to life while creating jobs, housing, businesses, and vibrant community spaces.

Whether you’re ready to build or just exploring what’s possible, we’re here to help you take the next step.

Basic Terms of Loans

Final loan terms are tailored to each project and formalized in a commitment letter and loan documents. Loan amounts are based on the value of the State Historic Tax Credit, and funds are disbursed after project completion.

The following standard terms apply to all loans:

Origination Fee: 2.5% of the loan amount
Interest Rate: 0.1% interest-only payments
Loan Term: 40-year amortization schedule
Public Benefit Contribution: A Good Steward Fee supports Rethos’ nonprofit programming. This fee is tied to the total amount of tax credits allocated to the project.
Legal Fees: $15,000 in legal costs paid by the developer for Rethos entities
Buyback Option: After 5 years, Rethos offers the developer an option to purchase the note at fair market value with a 15% discount

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Project Timeline and Funding

Rethos loan documents typically close early in the development process—at the same time as your project’s senior loan. However, funds are disbursed only after the building is placed in service. This structure ensures that our financing aligns with key project milestones and supports successful tax credit execution.

Our National Reach

We offer specialized historic rehab financing in 18 states—and the impact is already visible. With active projects underway in 7 states, you can explore how our lending supports revitalized buildings, vibrant communities, and local economies.

Take a look at where we’re making a difference.