Use the table below to find which program is the right fit. Click on the program name to learn more.
|Program||CHFA Housing Opportunity Fund (CHFA HOF)
||Capital Magnet Fund (CMF)
|Loan Limit||Up to $1M||$750,000|
|Loan Term||30 years||17 years|
|9% Housing Credit projects?||Yes||Yes|
|4% Housing Credit projects?||Yes||Yes|
|Non-Housing Credit projects?||Yes||No|
|Grant Options/Interest Rate Subsidy||Interest rate subsidy||Up to 20% can be a grant (when paired with a CHFA senior loan)|
What is the loan process at CHFA?
Typically, the timeline is between 60 and 90 days from receipt of a complete application to closing for each of these programs.
Click on the link below to view the CHFA loan process map.