HOUSING YOUR CHAPTER

 

The TBHC needs to plan as much as you do!  We are happy to help you understand the ramifications of housing your chapter, and can provide advice and guidance.  As we know your plans, we can start to form financing options before you need to apply for a TBHC loan.  Maintain contact with the TBHC throughout your project planning to completion!  Contact the TBHC via the Executive Director Mike Fouts at mfouts@trianglebhc.org.

 

CONSIDER YOUR OPTIONS

  • Lease
  • Purchase
  • Build
  • Greek Village/University Housing
  • Lodge (just a meeting space, but no member housing)
  • Other alternatives (renting a block of apartments, etc.)

For each of these options, make sure to consider all of your potential costs and risks. Each option may require:

  • Expansion
  • Remodeling
  • Adherence to special use permits
  • Adherence to Historic District and Rental Codes
  • Pending Legislation (especially relating to sprinkler requirements)

ARE YOU READY

If your chapter is currently renting or considering moving to a larger house, there is a simple rule-of-thumb to know when you’re ready:

  • If your existing facility has ALL beds full
  • If you have an equal number of brothers who desire to move into the house
  • If both have been true for at least two years

 

BEGIN PLANNING FOR THE LONG HAUL

The Building Loan Fund Manual provides a complete guide to help you make the plans needed to make that next step. Your chapter’s leadership is strongly recommended to download it and read it to get familiar with the various steps needed.

FINANCING OPTIONS

There are several financing options:

  • Commercial financing
  • Commercial first mortgage with 2nd mortgage holder
  • Partial financing from alumni
  • Down payment saved from member income and alumni donations

 

HOW DOES THE TBHC AND HOUSING CORP. HELP?

To provide opportunities to as many chapters as possible, you should plan on financing mainly from a commercial lender. In the past, TBHC has assisted chapters by:

  • Providing payment guarantees to a commercial lender
  • Providing a 2nd mortgage to assist with a down payment with a commercial lender

National Headquarters Address

120 S. Center Street
Plainfield, IN 46168
P | (317) 837-9640
F | (317) 837-9642

Office Hours

Monday through Friday
9 a.m. to 5 p.m. (Eastern)

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