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. Page Image Image Caption Page ContentPrintable Flyers Capital Magnet Fund SiMPLe 9 Percent Competitive Tax Credit Loan 4 Percent Non-Competitive Tax Credit Loan 4 Percent LIHTC PAB Cap Issuer Fees capital magnet fund Subordinate financing for 4 percent or 9 percent Low Income Housing Tax Credit (LIHTC) projects Below-market gap financing Up to $750,000 per project 17-year term; 35 years amortization Designed with a preference to serve very-low-income residents located in areas of economic distress View program flyer. Capital Magnet Fund Webinar - held August 2, 2018. Webinar recording (Video) Webinar slides (PDF) Webinar Q&A (PDF) 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. 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 premiumsNon-recourseFast execution - streamlined FHA Risk Share processing of five business days or less View program flyer. chfa4u: 4 percent lihtc tax-exempt loan program Combines construction and permanent financing into a simplified execution at the same time you apply for 4 percent tax credits New construction or acquisition and rehabilitation projects Applies to projects that have been financed with tax exempt Private Activity Bonds. View program flyer. 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 120% 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.
