CMF



CMF

capital magnet fund (cmf)

CMF provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Credit projects located in eligible areas and serving incomes at or below 50 percent of Area Median Income.

eligible projects

​Document Library
  • 4 percent or 9 percent Housing Credit
    • serving incomes at or below 50 percent AMI
    • in area of economic distress

eligble uses

CMF can be used for new or existing project acquisition and rehabilitation as a:

  • First mortgage
  • Secondary gap financing
  • Third mortgage

pair with these chfa programs

frequently asked questions

What is the purpose of the 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?
How do we determine if our project is eligible for Capital Magnet Funds?
Are projects able to use a loan term longer than 17 years to better align with other funding sources?
Does CHFA have reserve requirements?



contact

1.800.297.2342
MF-Lending@chfainfo.com