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GSP is working with a national debt fund for forward commitments rate locked today, funded up to 24 months on Affordable Housing rentals. Transactions from $1,000,0000 to $10,000,000 are locked at 6.38% today for an 18 Year fixed term (includes all premium costs), amortized over 30 years for funding in late 2014 or anytime through December 2015. The non-recourse debt requires a 2 point deposit but does not command margin calls should rates dip. This program is ideal for current 4% or 9% tax credit construction/rehab transactions – sized to 85% of proforma value.