CHFA's Rental Finance Division provides a variety of financial resources for preservation of existing affordable housing, including LIHTC “Year 15” properties, Section 8 properties, projects being restructured under HUD’s Market-to-Market Program, 202 refinancings, and Section 236 “decoupling” transactions.
CHFA frequently uses private activity bonds coupled with 4% LIHTC, FHA-insured mortgages under the 542(c) Risk Share program, and conventional mortgage resources to preserve existing affordable rental units. Preservation frequently involves complex transactions and CHFA offers the flexibility and resources to address the various elements involved with these complexities.
There is a collection of CHFA’s traditional loan products used for preservation purposes. They are: