Earnest Money Deposit Loans

We are proud to offer the TOPA EMD Loan Program in partnership with City First Enterprises (CFE). The program was created in response to the challenge Tenant Associations (TAs) face getting over the first financial hurdle of the TOPA process, the earnest money deposit (EMD). With the goal of reducing this barrier to enable more TAs to be able to pursue their rights, NHT and CFE designed the program to be relatively risk free for TAs with an untraditional success fee model. Since launching in 2016, the program has lent to over 48 tenant associations across all eight DC Wards. 70% of TAs using this program have successfully exercised their TOPA rights.

Standard Loan Terms (please read the FAQs for more details):

  • Length: The shorter of one-year or the end of a TA’s TOPA rights
  • Application Fee: 0.5% of the EMD and credited towards origination fee
  • Origination Fee: 1% of the EMD or alternative origination fee structure (see below)
  • Success Fee: 8% if successful TOPA assignment for the purposes of affordable housing (fee is waived if TOPA is unsuccessful)
  • Legal Fee: None (to keep fees down, NHT has a standard set of closing documents)

Please review our FAQ doc


apply online  download an application

Contact Amy Lieber to learn more about the TOPA EMD Program.