Use the table below to find which program is the right fit. Click on the program name to learn more.
|Program||Sizeable Multifamily Affordable Risk Share Tool (SMART)
||Small Multifamily Permanent Loan (SIMPLE)
|Loan Limit||$3-6M||Up to $3M|
|Loan Term||Up to 40 years||35 years|
|9% Housing Credit projects?||Yes||Yes|
|4% Housing Credit projects?||Yes||No|
|Non-Housing Credit projects?||Yes||No|
|FHA Risk Share Insurance required||Yes||No|
What is the loan process at CHFA?CHFA’s processing time is competitive with other lenders in the industry. Typically, the timeline is between 60 and 90 days for a permanent loan.
Click on the link below to view the CHFA permanent loan process map.