sizeable multifamily affordable risk share tool (smart)

SMART provides $3-$6 million in permanent insured financing, featuring up to 40-year fixed rates and one of the lowest FHA mortgage insurance premiums in the industry.

​Document Library
Whether you have a Housing Credit or non-Housing Credit project, CHFA delivers quickly with a flexible solution tailored to your needs.

eligible projects

  • 4 percent and 9 percent Housing Credit 
  • Non-Housing Credit

eligible uses

  • Acquisition
  • New construction
  • Rehabilitation

pair with these chfa programs

frequently asked questions

What is the HFA/HUD 542(c) Risk Sharing program?
What is the difference between CHFA Risk Share Product process and HUD MAP Program process?
Are Davis Bacon wages required? 
Why does Risk Share require an Environmental Risk Assessment, as required by National Environmental Policy Act (NEPA)?
How long does this assessment/review take and who conducts the review?
When will the loan fund?
When is the 2 percent rate lock fee due?
Does CHFA have reserve requirements?