chfa hof


chfa housing opportunity fund (chfa hof)

CHFA HOF provides up to $1 million in flexible gap financing, which can be paired with any of CHFA’s senior debt programs as secondary financing, used as a first mortgage loan, or as an interest rate subsidy.

CHFA’s internal resources allow us to offer this flexibility to help you get your deal done efficiently and affordably.
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eligible projects

  • Acquisition
  • New construction
  • Substantial rehabilitation

eligible uses

  • First mortgage
  • Secondary gap financing with CHFA as senior lender
  • Interest rate subsidy

pair with these chfa programs

frequently asked questions

What is the purpose of the Housing Opportunity Fund (HOF) program and how is it funded?
Is the debt must-pay “hard debt,” or is repayment cash flow dependent (“soft debt”)?
How are the funds allocated?
How may it be paired with other CHFA programs or products?
Does the loan product require CHFA be the senior permanent lender?
Are non-LIHTC projects eligible?
Are projects able to use a loan term longer than 30 years to better align with other funding sources?
Does CHFA have reserve requirements?