The Funding Sources Inventory tool allows you to search a database of funding sources created for this guide to determine which may be relevant to consider for your development. Use the filters at the top of the page to narrow down the list of possible sources based on the characteristics of your development. The funding sources shown in the list at the bottom will be those that match at least one of the criteria from each of the filter categories you have selected (in other words, the filters use OR logic within each filter category and AND logic across filter categories). Review the remaining list to learn more about each program. You can click the “Details” button to display detailed information about each funding source.

Eligible UsesInclude funding that can be used for:

Eligible RecipientsInclude funding that can be used by:

Funding TypeInclude the following type(s) of funding:

Affordability RequirementsShow funding that may have affordability requirements?

Geographic LimitationsInclude funding designated for:

Funding Sources Inventory

Displaying 1 - 17 of 17
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Healthy Housing Rewards Initiative
The Healthy Housing Rewards Initiative offers discounted mortgage financing for new construction or rehabilitation of multifamily affordable rentals when borrowers use physical design and resident services practices to advance health outcomes. Properties must meet or exceed the minimum certification standards of the Fitwel® Certification System (operated by the Center for Active Design); certification costs (up to $6,500) are reimbursable as part of the loan.
Details
Eligible home types:
  • Multifamily rental properties where at least 60% of the units are affordable to households earning no more than 60% AMI
Eligible recipients:
  • Developers of eligible multifamily properties *Note can be used once per borrower per property.
Eligible uses:
N/A
Affordability requirements:
Households earning no more than 60% AMI
Geography funding is available to :
Statewide
Maximum financial assistance per project:
No minimum or maximum
Additional notes or requirements:
Links to more information:
Colorado C-PACE 
The Colorado Commercial Property Assessed Clean Energy Program (C-PACE) provides financing for clean energy upgrades in new or existing properties. Upgrade costs are repaid through future property tax assessments (after the property is already experiencing the cost savings from the upgrades). It can be used to finance a range of energy efficiency and renewable energy improvements and related expenses at multifamily (5+ units) properties (among others).
Details
Eligible home types:
  • Multifamily buildings (5+ units)
Eligible recipients:
  • Developers
  • Existing property owners (5+ unit buildings)
Eligible uses:
  • Energy efficiency improvements (HVAC; roof; building envelope improvements)
  • Renewable energy improvements (various types of power systems)
  • Water conservation improvements (irrigation and low-flow fixtures)
  • Other expenses related to making improvements (such as construction costs; permit fees; and engineering and design services)
Affordability requirements:
N/A
Geography funding is available to :
Maximum financial assistance per project:
  • New construction: Up to 35% of energy improvement costs
  • Existing buildings: Up to 100% of energy improvement costs
Additional notes or requirements:
Links to more information:
Energy Outreach Colorado 
Energy Outreach Colorado offers funding and services to assist with the purchase and installation of energy efficient equipment (Nonprofit Energy Efficiency Program); and weatherization of affordable multifamily properties (Affordable Housing Weatherization Program).
Details
Eligible home types:
Nonprofit Energy Efficiency: N/A Affordable Housing Weatherization Program: Buildings of 2+ units
Eligible recipients:
Nonprofit Energy Efficiency: Nonprofits in Colorado with a core mission to serve low-income households (exceptions apply) Affordable Housing Weatherization Program: Property owners of buildings where 66% of households at or below 80% AMI
Eligible uses:
Nonprofit Energy Efficiency Program: energy assessments; project installation; equipment replacement Affordable Housing Weatherization Program: energy audits; resource navigation; equipment replacement
Affordability requirements:
N/A
Geography funding is available to :
Nonprofit Energy Efficiency: Statewide Affordable Housing Weatherization Program
Maximum financial assistance per project:
Varies
Additional notes or requirements:
Links to more information:
Disaster Loan Assistance (US SBA) 
The Small Business Administration offers low-interest loans to businesses, nonprofits, homeowners, and renters located in regions affected by declared disasters via their Disaster Loan Assistance program. Loans can cover costs associated with homeowners' primary residence; renter's real property; and repair and replacement of real property for eligible rental property owners.
Details
Eligible home types:
  • Homeowners: Primary residence
  • Business owners/nonprofits: Rental properties
Eligible recipients:
  • Homeowners
  • Renters
  • Business owners/nonprofits
Eligible uses:
  • Homeowner: Replace or repair primary residence; mortgage refinance (in some cases); personal property
  • Renter: Personal property
  • Business owner/nonprofits: Replace or repair real property; machine; equipment; inventory
Affordability requirements:
N/A
Geography funding is available to :
Declared disaster area
Maximum financial assistance per project:
Homeowner: Up to $200,000 for housing; Up to $40,000 for personal property Renter: Up to $40,000 for personal property Business owners/nonprofits: Up to $2 million
Additional notes or requirements:
Links to more information:
USDA 515 Program 
The USDA 515/Multi-family Housing Direct Loan Program provides competitive direct loans to finance multifamily rental housing that services low-income families and elderly or disabled individuals. Rental assistance for individuals and households living in properties financed with 515 is also available.
Details
Eligible home types:
Multifamily rental development
Eligible recipients:
  • Nonprofit and for-profit associations and corporations
  • Individuals, partnerships, and trusts
  • Consumer cooperatives and partnerships
  • Public or private nonprofit organizations
  • Federally-recognized Tribes
Eligible uses:
  • Construction, improvement and purchase of multi-family rental housing
  • Land purchase and improvement
  • Infrastructure
Affordability requirements:
Geography funding is available to :
Maximum financial assistance per project:
Varies
Additional notes or requirements:
Projects developed with USDA Multifamily Housing Direct Loans must be in compliance with NEPA.
Links to more information:
Value-Add Loan Program
Short-term, cost-effective financing for modest property upgrades.
Details
Eligible home types:
Multifamily properties (including mixed-use) with no more than 500 total units. Senior housing, student housing and manufactured housing communities are not eligible.
Eligible recipients:
Developers/operators with experience in multifamily property rehabilitation and in the local market with sufficient financial capacity
Eligible uses:
Light rehabilitation of multifamily properties
Affordability requirements:
None
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Maximum LTV: 85%. Minimum amortizing DCR: 1.1x
  • 1.15x depending on the market. Rehabilitation budget must be within $10,000 to $25,000 per unit.
Additional notes or requirements:
Rehabilitation must commence within 90 days of loan origination and be completed within 33 months
Links to more information:
Tax-Exempt Loan
Financing for the acquisition or refinance of stabilized affordable multifamily properties with 4% Low-Income Housing Tax Credits (LIHTC) with at least 7 years remaining in the LIHTC compliance period.
Details
Eligible home types:
Garden, mid-rise or high-rise multifamily properties with 4% LIHTC with 90% occupancy for 90 days. May be used for mixed-use properties.
Eligible recipients:
Any owner of a property with 4% LIHTCs.
Eligible uses:
Refinancing affordable multifamily properties with 4% LIHTCs.
Affordability requirements:
There must be at least 7 years remaining in the LIHTC compliance period.
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Maximum LTV: 85% of adjusted value or 90% of market value. Minimum DCR: 1.15x.
Additional notes or requirements:
Links to more information:
MBS as Tax-Exempt Bond Collateral (MTEB)
A Fannie Mae Multifamily MBS that can be used as collateral to credit enhance either (i) existing fixed-rate bond refundings, or (ii) new fixed-rate bond issues in conjunction with 4% Low-Income Housing Tax Credits (LIHTC).
Details
Eligible home types:
Multifamily affordable housing properties with 4% LIHTCs.
Eligible recipients:
All property owners
Eligible uses:
Development, rehabilitation, or refinancing of multifamily affordable housing properties.
Affordability requirements:
None beyond existing requirements placed on eligible properties by 4% LIHTC program (note: higher LTVs allowed for properties with more affordable units)
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Maximum LTV: 90% for 4% LIHTC properties with at least 90% of the units meeting affordability requirements; 85% for 4% LIHTC properties with less than 90% of the units meeting affordability requirements; and 80% for refundings. Minimum DCR: 1.15x for 4% LIHTC properties with at least 90% of the units meeting affordability requirements; 1.20x for 4% LIHTC properties with less than 90% of the units meeting affordability requirements and for refundings.
Additional notes or requirements:
Links to more information:
Housing Opportunity Fund (HOF)
CHFA HOF provides up to $1 million in flexible gap financing, which can be paired with any of CHFA’s senior debt programs as secondary financing, used as a first mortgage loan, or as an interest rate subsidy.
Details
Eligible home types:
All
Eligible recipients:
All affordable housing types
Eligible uses:
Acquisition, new construction, and substantial rehabilitation
Affordability requirements:
Minimum AMI Restrictions: 20% at 50% AMI or 40% at 60% AMI
Geography funding is available to :
Colorado
Maximum financial assistance per project:
$1 million. Maximum LTV: 90%. Minimum DCR: 1.15x (first loan) or 1.05x (combined with all hard debt)
Additional notes or requirements:
Must conform with CHFA Credit Policy, including operating and replacement reserve requirements (when the HOF program is used as a first mortgage or senior debt; reserve requirements are not in place if HOF is used as secondary or tertiary debt). Replacement Reserve deposits and tax/insurance escrows are required once the project converts to the permanent period. For new construction projects, the minimum Replacement Reserve deposit is $250 per unit per year for senior properties, $300 per unit per year for family properties, and $350 per unit per year for permanent supportive housing properties. For acquisition/rehab properties, the corresponding reserves minimums would be increased by $50 per unit per year. CHFA must be the senior lender if this funding is used.
Links to more information:
Small-scale Housing Permanent Loan
The Small-scale Housing Permanent Loan program provides up to $2.5 million of uninsured permanent financing for four- to 19-unit multifamily rental properties. This innovative program provides critical long term financing to smaller properties from a trusted partner.
Details
Eligible home types:
Rental housing properties with between 4 and 19 units
Eligible recipients:
Small-scale developers
Eligible uses:
New construction, acquisition/rehab, and refinances
Affordability requirements:
A total of 75% of the project units must be available and affordable to residents earning up to 120% Area Median Income (AMI). In addition, 20% of the total units must be restricted to residents earning 80% AMI or less.
Geography funding is available to :
Colorado
Maximum financial assistance per project:
Up to $2.5 million. Lesser of 85% LTV or 90% of development costs. DCR: 1.20 Amount supportable by the project's stabilized net operating income.
Additional notes or requirements:
Market Study or Housing Needs Assessment must demonstrate demand for the proposed project. There is a six-month reserve requirement for operating expenses and debt service, with a minimum replacement reserve requirement at $350/unit/year, increasing annually by 3%. A Phase I environmental assessment, at a minimum, is required for all projects. If the project involves an existing building constructed before 1978 that has no documentation of previous abatement, a lead-based paint and asbestos-containing materials report must be submitted along with a plan for abatement during rehab and/or an Operations and Maintenance Manual for managing the hazards in place. Radon testing is required after the project is complete and appropriate mitigation provided if radon levels are higher than the EPA-recommended threshold for abatement action.
Links to more information:
Multifamily Collateral Support (MFCS) Program
The MFCS program is designed to help developers of multifamily projects with less than 20 units access the capital that would otherwise be unavailable due to collateral shortfalls by providing cash deposits at the developer’s lender of choice that act as collateral on the developer’s behalf.
Details
Eligible home types:
Multifamily projects with less than 20 units
Eligible recipients:
Multifamily developers
Eligible uses:
New construction or acquisition/rehab
Affordability requirements:
The project must serve residents earning up to 120% Area Median Income (AMI) or less
Geography funding is available to :
Colorado
Maximum financial assistance per project:
$500,000
Additional notes or requirements:
Lender bank must have a presence in the community within which the project is located
Links to more information:
Middle Income Access Program (MIAP)
The Middle Income Affordable Development Program (MIAP) addresses the middle income, sometimes referred to as the “missing middle,” population with incomes too high for LIHTC units but often overburdened by market rents. Typically, the missing middle is comprised of renters whose income is between 80 percent and 120 percent Area Median Income (AMI).
Details
Eligible home types:
Rental housing
Eligible recipients:
Any developer
Eligible uses:
Acquisition, new construction, and rehabilitation
Affordability requirements:
At least 20% of the units must be restricted to households at 80% or less of AMI, and up to 75% of the total units over and above the 80% units must be restricted to households at 120% AMI
Geography funding is available to :
Colorado
Maximum financial assistance per project:
Lesser of 90% LTV or development costs for all must-pay debt, Debt Service Coverage: 1.10 minimum combined with the first mortgage. Amount supportable by the project’s stabilized net operating income.
Additional notes or requirements:
Must conform with CHFA Credit Policy, including operating and replacement reserve requirements
Links to more information:
CHFA Capital Magnet Fund (CMF)
CMF provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Credit projects located in eligible areas and serving incomes at or below 50 percent of Area Median Income.
Details
Eligible home types:
Multifamily housing (including 4% and 9% Housing Tax Credit projects)
Eligible recipients:
Developers of 4 percent and 9 percent Housing Credit projects
Eligible uses:
Acquisition, new construction, and rehabilitation
Affordability requirements:
AMI restrictions: At or below 50% AMI preferred
Geography funding is available to :
Colorado, with preference given to projects in areas experiencing economic distress and/or located in rural areas
Maximum financial assistance per project:
$750,000. Maximum LTV: 90%. Minimum DCR: 1.05x (combined with all hard debt)
Additional notes or requirements:
Must conform with CHFA Credit Policy, including operating and replacement reserve requirements (when the CMF program is used as a first mortgage or senior debt; reserve requirements are not in place if CMF is used as secondary or tertiary debt). Replacement Reserve deposits and tax/insurance escrows are required once the project converts to the permanent period. For new construction projects, the minimum Replacement Reserve deposit is $250 per unit per year for senior properties, $300 per unit per year for family properties, and $350 per unit per year for permanent supportive housing properties. For acquisition/rehab properties, the corresponding reserves minimums would be increased by $50 per unit per year.
Links to more information:
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.
Details
Eligible home types:
Multifamily housing
Eligible recipients:
Developers of 4% and 9% Housing Tax Credit and non-Housing Credit projects
Eligible uses:
Acquisition, new construction, and rehabilitation
Affordability requirements:
Minimum AMI Restrictions: 20% at 50% AMI or 40% at 60% AMI
Geography funding is available to :
Colorado
Maximum financial assistance per project:
Lesser of 90% LTV or development costs. Minimum DCR: 1.15x
Additional notes or requirements:
CHFA uses the HFA/HUD 542(c) Risk Sharing program to offer this funding, which enhances CHFA's bonds and allows CHFA to borrow at more favorable rates. CHFA originates, underwrites, processes, and services the loans to projects. CHFA and HUD share 50/50 in the risk of loss of the mortgage in the event of an insurance claim. Conditional upon approval of HUD Risk Share insurance. Subject to HUD Environmental Risk Assessment. Davis Bacon wage requirements apply if Risk Share mortgage insurance is utilized during the construction phase (this program can provide uninsured construction financing or a construction loan insured by the HUD Risk Share program). Must conform with CHFA Credit Policy, including operating and replacement reserve requirements. For new construction projects, the minimum Replacement Reserve deposit is $250 per unit per year for senior properties, $300 per unit per year for family properties, and $350 per unit per year for permanent supportive housing properties. For acquisition/rehab properties, the corresponding reserves minimums would be increased by $50 per unit per year.
Links to more information:
Housing Assistance Council
HAC is a certified Community Development Financial Institution (CDFI) focused on improving housing and living standards for rural low- and very low-income households and supporting development of new affordable housing in rural America.
Details
Eligible home types:
  • Subdivisions and new single or multifamily housing units,
  • preservation and rehabilitation of existing affordable housing including USDA RD Sec 515 and 514 units,
  • HUD-subsidized housing and
  • naturally occurring affordable housing.
  • or multifamily housing units
Eligible recipients:
All rural housing developers (Community-based, nonprofit organizations, housing development corporations, for-profit developers, self
  • help housing sponsors, farm worker organizations, cooperatives, land trusts, Indian tribes, public agencies and units of local government)
Eligible uses:
Predevelopment New construction Acquisition and rehabilitation
Affordability requirements:
None
Geography funding is available to :
Rural areas nationwide (as designated by FHFA Duty to Serve Rural Definitions or USDA Housing Programs Eligibility)
Maximum financial assistance per project:
Varies
Additional notes or requirements:
Links to more information:
National Housing Trust
NHT Community Development Fund (NHTCDF), a Community Development Financial Institution (CDFI), has deployed more than $44 million in loans, preserved more than 13,000 affordable units, and leveraged more than one billion in capital by providing quality, affordable loan products.
Details
Eligible home types:
Multifamily or single-family (only multifamily for energy efficiency loans)
Eligible recipients:
Any affordable housing developer (for most products, except Community Land Trust loans, which are limited to Community Land Trusts)
Eligible uses:
Pre-development Acquisition Property improvements that reduce energy and water consumption
Affordability requirements:
None
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
$1.5 million for predevelopment. $2.5-5 million for acquisition. $750,000 for community land trusts.
Additional notes or requirements:
Links to more information:
Partners for the Common Good
PCG is a certified Community Development Financial Institution (CDFI) that was created as a vehicle to allow socially conscious investors to put their money to work serving communities left out of the economic mainstream. PCG moves the economy forward by financing community development and encouraging community engagement.
Details
Eligible home types:
Any that have tangible benefits for low-income individuals (including affordable housing and community facilities, amongst others)
Eligible recipients:
Any borrower engaged in projects that primarily serve low-income people, with support of the local community, but that cannot be adequately served by conventional sources of financing
Eligible uses:
Acquisition Construction and/or rehabilitation Preservation
Affordability requirements:
Must include units affordable to low-income people
Geography funding is available to :
Nationwide, with a focus on low-income communities
Maximum financial assistance per project:
$1,750,000 Maximum LTV: 90%. Minimum DCR: 1.10x on some loan types
Additional notes or requirements:
Projects that are environmentally sensitive and contribute demonstrably to healthy communities are prioritized.
Links to more information:
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Healthy Housing Rewards Initiative
The Healthy Housing Rewards Initiative offers discounted mortgage financing for new construction or rehabilitation of multifamily affordable rentals when borrowers use physical design and resident services practices to advance health outcomes. Properties must meet or exceed the minimum certification standards of the Fitwel® Certification System (operated by the Center for Active Design); certification costs (up to $6,500) are reimbursable as part of the loan.
Details
Eligible home types:
  • Multifamily rental properties where at least 60% of the units are affordable to households earning no more than 60% AMI
Eligible recipients:
  • Developers of eligible multifamily properties *Note can be used once per borrower per property.
Eligible uses:
N/A
Affordability requirements:
Households earning no more than 60% AMI
Geography funding is available to :
Statewide
Maximum financial assistance per project:
No minimum or maximum
Additional notes or requirements:
Links to more information:
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