Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 58

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 58
---
 or loss with respect to interest rate fluctuations will depend on the exposures that arise during the period and interest rates. At March 31, 2025, we had interest rate caps and swaps, which are not accounted for as hedges, that we primarily use as part of our interest rate risk management strategy. Our interest rate caps and swaps mitigate our exposure to interest rate risk by providing a ceiling on the underlying interest rate for $150.3 million of our debt. Based on our debt outstanding and interest rates in effect at March 31, 2025, a 100-basis point increase or decrease in interest rates on the portion of our debt bearing interest at variable rates would have a negligible impact for the quarter ended March 31, 2025.

48

Table of Contents

#### Item 4. Controls
and Procedures

#### Disclosure Controls
and Procedures

Evaluation of Disclosure
Controls and Procedures

As
required by Rule 13a-15(b) and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
our management, including our Chief Executive Officer and Chief Financial Officer, evaluated, as of March 31, 2025, the effectiveness
of our disclosure controls and procedures as defined in Exchange Act Rule 13a-15(e) and Rule 15d-15(e). Based on that evaluation, our
Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of March 31,
2025 to provide reasonable assurance that information required to be disclosed by us in this report filed or submitted under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Exchange Act and is
accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow
timely decisions regarding required disclosures.

We
believe, however, that a controls system, no matter how well designed and operated, cannot provide absolute assurance that the objectives
of the controls systems are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of
fraud or error, if any, within a company have been detected.

Changes in Internal
Control over Financial Reporting

There
have been no changes in our internal controls over financial reporting that occurred during the quarter ended March 31, 2025 that have
materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.