Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 82

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 82
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 unable to refinance the properties when the debt becomes due or of being unable to refinance on favorable terms. If interest
rates are higher when we refinance the properties, our income could be reduced. As such, we may find it difficult, costly or impossible
to refinance indebtedness that is maturing. If any of these events occur, our interest cost would increase as a result, which would reduce
our cash flow. This, in turn, could reduce cash available for distribution to our stockholders and may hinder our ability to raise capital
by issuing more stock or borrowing more money. If we are unable to refinance maturing indebtedness with respect to a particular property
and are unable to pay the same, then the lender may foreclose on such property.

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Volatility in the commercial mortgage-backed securities market could impact the pricing of secured debt. Volatility in the commercial mortgage-backed securities market could result in the following adverse effects on our incurrence of secured debt, which could have a materially negative impact on our financial condition, results of operations, cash flow and cash available for distribution:

| ● | higher        
 loan spreads; |

| ● | tighter         
 loan covenants; |

| ● | reduced                                                   
 loan-to-value ratios and resulting borrower proceeds; and |

| ● | higher                                 
 amortization and reserve requirements. |

Some of our mortgage loans may have “due-on-sale” provisions, which may impact the manner in which we acquire, sell and/or finance our properties. We may obtain financing with “due-on-sale” and/or “due-on-encumbrance” clauses when financing our properties. Due-on-sale clauses in mortgages allow a mortgage lender to demand full repayment of the mortgage loan if the borrower sells the mortgaged property. Similarly, due-on-encumbrance clauses allow a mortgage lender to demand full repayment if the borrower uses the real estate securing the mortgage loan as security for another loan. In such event, we may be required to sell our properties on an all-cash basis, which may make it more difficult to sell the property or reduce the selling price. Lenders may be able to recover against our other properties under our mortgage loans. In financing our property acquisitions, we will seek to obtain secured nonrecourse loans. However, only recourse financing may be available, in which event, in addition to the property securing the loan, the lender would have the ability to look to our other assets for satisfaction of the