multifamily loan products


These products help for-profit developers, nonprofit developers, and public housing authorities finance the purchase, construction, rehabilitation, refinance, and building of affordable rental housing.​

​​​​​​​Printable Flyers

​​​​small multifamily permanent loan (simple)

SiMPLe offers uninsured permanent financing for 9 percent tax credit properties.

  • Fast execution from complete application to loan commitment generally within 60 days.
  • Up to $2.5M per project
  • 35 years, fully amortizing with no balloon payment

View program flyer.

 

ffb risk share​

Permanent financing for the acquisition, construction, rehabilitation, and refinancing of existing Colorado multifamily properties​

  • Up to 40-year terms,​​
  • Non-recourse to the borrower, 
  • No upfront deposit requirement, and 
  • Reduced FHA mortgage insurance premiums.​​​​​​​​
View program flyer. ​

9 percent tax credit loan

Insured permanent financing for 9 percent competitive tax credit properties
  • ​​​​​​Applies to projects that have received a reservation of 9 percent competitive Low Income Housing Tax Credits (LIHTCs)
  • Reduced FHA mortgage insurance premiums
  • Non-recourse
  • Fast execution - streamlined FHA Risk Share processing of five business days or less
View program flyer.

​4 percent non-competitive tax credit loan 

Combines a tax exempt loan and tax credits in a single application

  • New construction or acquisition and rehabilitation projects
  • Applies to projects that have been financed with tax exempt Private Activity Bonds. 
View program flyer​.​

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affordability requirements​​

To ensure housing availability for low and moderate income households, properties taking part in CHFA's multifamily loans programs have restrictions for a minimum "qualified project period" or the term of the loan, whichever is longer. These restrictions typically include the following: 

  • A total of 75% of the units must be available and affordable to households with low and moderate income. "Moderate" is defined as 100% of the area median income adjusted for household size. 
  • Of the total units in a development, either: 
    • ​a minimum of 20% of the units must be available and affordable to households earning 50% of the area median income or less, adjusted for household size; or 
    • ​a minimum of 40% of the units must be available and affordable to households earning 60% of the area median income or less, adjusted for household size. 
  • The housing costs (rent plus an allowance for tenant-paid utilities) for all restricted units may not exceed 30% of the annual income ceiling for the various household sizes.

CHFA continuously monitors compliance with these requirements.

View rent and income limit tables​ to learn more about these requirements. 


contact

For more information about CHFA's multifamily loan programs, contact Terry Barnard at 303.297.4866 or Timothy Dolan at 303.297.7318.​​​

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