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:

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 - 25 of 38
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Housing Development Loan Fund (HDLF)
This program makes loans for development, redevelopment, or rehabilitation of properties serving low- and moderate-income households. This program was created to meet federal matching funding requirements and loans made through this program require collateral.
Details
Eligible home types:
  • Multifamily
  • Single-family
Eligible recipients:
  • Nonprofit developers
  • Housing authorities
Eligible uses:
  • Housing development
  • Housing redevelopment
Affordability requirements:
Consult DOH Housing Development Specialist for latest guidance.
Geography funding is available to :
Statewide
Maximum financial assistance per project:
Varies by activity
Additional notes or requirements:
Links to more information:
Colorado Housing Investment Fund (CHIF)
CHIF, which was created from mortgage settlement funds, is a revolving loan fund designed to address Colorado’s need for affordable rental housing. Funding can be used by eligible borrowers in two ways: 1) short term, low interest loans to bridge permanent financing sources; and 2) short term loan guarantees for new construction and rehabilitation.
Details
Eligible home types:
Loan pool:
  • Rental properties that serve households below 60% AMI
  • Mixed-income developments that serve persons with disabilities, veterans, or persons experiencing homelessness Loan guarantee:
  • Rental properties that serve households below 60% AMI
  • Mixed-income developments
  • Projects that create future market demand due to an event (e.g., new transit; voucher award; new employer)
Eligible recipients:
Loan pool: nonprofits; for-profits; housing authorities Loan guarantee: nonprofits; for-profits; housing authorities
Eligible uses:
Loan pool: acquisitions; bridge loans; new construction; rehabilitation Loan guarantee: new construction; rehabilitation
Affordability requirements:
Loan pool: Minimum affordability period of 30 years; households at or below 60% AMI Loan guarantee: Minimum affordability period of 30 years
Geography funding is available to :
Loan pool: Statewide Loan guarantee: Statewide
Maximum financial assistance per project:
Loan pool: Up to $3 million Loan guarantee: Up to $2 million
Additional notes or requirements:
Consult DOH Housing Development Specialist for more information.
Links to more information:
CDBG-DR 
Colorado uses its allocation of CDBG-DR funding from the federal government for a variety of housing assistance and finance programs, including disaster recovery funding for multifamily housing construction. The CDBG-DR Multifamily Housing Construction Loan provides loans for affordable rental property construction and repair, in accordance with the state's Action Plan.
Details
Eligible home types:
  • Multifamily rental properties
  • Mixed-income developments
Eligible recipients:
  • Local governments
  • Housing authorities
  • For-profits
  • Non-profits
Eligible uses:
  • Acquisition
  • Bridge loans
  • New construction
  • Rehabilitation
Affordability requirements:
  • 30 year affordability period
Geography funding is available to :
Statewide (to be used in disaster-affected areas following a declared disaster)
Maximum financial assistance per project:
Up to $4 million
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:
HUD Section 184 Loan Guarantee Program 
The Section 184 Loan Program was designed to provide access to mortgage financing to Native American and Alaskan Native tribal members. Section 184 home loans are guaranteed 100% by the Office of Loan Guarantee within HUD's Office of Native American Programs. This guarantee encourages national and local banks to provide mortgage loans to Native Americans. The Office of Loan Guarantee works with a national network of lenders to increase Native access to home financing and to improve the value of Native investments.
Details
Eligible home types:
Single-family homes (1-4 units) that will be a primary residence (i.e. not a second home)
Eligible recipients:
Currently enrolled members of Federally Recognized Tribes, Tribally Designated Housing Entities (TDHEs), and Indian Housing Authorities
Eligible uses:
You can use the Section 184 Loan to: Purchase an Existing Home Construct a New Home (Site-Built or Manufactured Homes on permanent foundations) Rehabilitate a Home, including weatherization Purchase and Rehabilitate a Home Refinance a Home (Rate and Term, Streamline, Cash Out)
Affordability requirements:
None
Geography funding is available to :
All counties in CO are authorized by HUD; each Tribe designates what land is eligible for their members who wish to use Section 184 funds (this is not necessarily limited to tribal trust land)
Maximum financial assistance per project:
Varies by county
Additional notes or requirements:
Links to more information:
Tribal Housing Activities Loan Guarantee Program (Title VI) 
The purpose of the Title VI loan guarantee is to assist Indian Housing Block Grant (IHBG) recipients (borrowers) who want to finance additional grant-eligible construction or development at today’s costs. Tribes can use a variety of funding sources in combination with Title VI financing, such as low-income housing tax credits.
Details
Eligible home types:
All (anything eligible for IHBG is eligible for Title VI)
Eligible recipients:
IHBG recipients (i.e. Federally Recognized Tribes, Alaska Native Villages, and Tribally Designated Housing Entities [TDHEs])
Eligible uses:
Create new housing Rehabilitate housing Build infrastructure Construct community facilities Acquire land to be used for housing Prepare architectural & engineering plans Fund financing costs
Affordability requirements:
Grant funds must be used to primarily benefit low-income Native families
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
The maximum guarantee amount that a tribe/TDHE can borrow is approximately five times the need portion of the annual IHBG allocation. There is no minimum loan size.. A tribe/TDHE may have one or more Title VI loans, but the combined total may not exceed the maximum guarantee amount.
Additional notes or requirements:
Links to more information:
USDA Single Family Housing Direct Home Loans (aka Section 502 loans)
This program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.
Details
Eligible home types:
2,000 square feet or less, no in-ground swimming pools, not have market value in excess of the applicable area loan limit set by USDA. Homes must be used as a primary residence and should not be designed for income producing activities.
Eligible recipients:
Low-income households who lack decent, safe and sanitary housing but are unable to obtain a loan from other resources
Eligible uses:
To help low-income individuals or households purchase homes in rural areas Build, repair, renovate or relocate a home Purchase and prepare sites (including providing water and sewage facilities)
Affordability requirements:
Funding must be used to support homeownership for low and very-low-income families living in rural areas
Geography funding is available to :
Eligible rural areas as defined by USDA
Maximum financial assistance per project:
Varies depending on applicant's assessed repayment ability and the area loan limit for the county in which the property is located
Additional notes or requirements:
Links to more information:
VA Native American Veteran Direct Loan Program 
The Native American Direct Loan (NADL) program is designed to assist households headed by Native Veterans in accessing financing to buy, build, or improve a home on federal trust land.
Details
Eligible home types:
Primary residences
Eligible recipients:
Veterans who are Native American or are married to someone who is Native American
Eligible uses:
Buy, build, or improve a home on federal trust land
Affordability requirements:
Geography funding is available to :
Federal trust land
Maximum financial assistance per project:
Varies based on applicant credit history, income, and assets
Additional notes or requirements:
Links to more information:
FHA 223(f) Multifamily Loan Insurance Program
Section 207/223(f) insures mortgage loans to facilitate the purchase or refinancing of existing multifamily rental housing. These projects may have been financed originally with conventional or FHA insured mortgages. Properties requiring substantial rehabilitation are not eligible for mortgage insurance under this program.
Details
Eligible home types:
Properties with 5+ residential units (each including complete kitchens and baths) that have been completed or substantially rehabilitated at least 3 years prior to the date of application for mortgage insurance. The remaining economic life of the project must be long enough to permit a ten-year mortgage.
Eligible recipients:
For-profit and non-profit borrowers
Eligible uses:
Non-critical repairs that will be completed within 12 months of loan closing. Projects requiring substantial rehabilitation (e.g. replacement of more than one major system) are not allowable.
Affordability requirements:
None
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
The mortgage term cannot exceed 35 years or 75 percent of the estimated life of the physical improvements, whichever is less.
Additional notes or requirements:
Davis Bacon prevailing wage requirements do not apply to this program.
Links to more information:
Small Balance Loan Program
Loans for the purchase or refinancing of small apartment buildings (targeting 5 to 50 units), ranging from $1 million to $7.5 million.
Details
Eligible home types:
Multifamily housing with 5+ residential units, except: senior housing with support services, student housing, military housing, properties with project-based housing assistance payment contracts, LIHTC properties with LURAs in compliance years 1 through 12, Historic Tax Credit properties with a master lease structure, and properties with tax-exempt bonds Interest Reduction Payments. Non-contiguous properties within the same zip code and mixed use buildings may be allowed.
Eligible recipients:
Limited partnerships; limited liability companies; Single Asset Entities; Special Purpose Entities; tenancy in common with up to five unrelated members; and irrevocable trusts with an individual guarantor
Eligible uses:
Acquisition or refinance of multifamily properties
Affordability requirements:
None
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Loan size may range from $1 million up to $7.5 million. Maximum LTV typically ranges from 70 to 80% depending on the market and type of project (purchase vs. refinance).
Additional notes or requirements:
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:
NOAH Preservation Loan
Supports the long-term preservation of unsubsidized affordable housing (aka naturally occurring affordable housing or NOAH) by providing qualifying nonprofits competitive financing to acquire properties and preserve long-term affordability.
Details
Eligible home types:
Garden, mid-rise, or high-rise multifamily NOAH properties
Eligible recipients:
501(c)(3) nonprofit organizations with affordable housing preservation as a stated part of its mission and a demonstrated history of successful property ownership. The nonprofit must either have an equity partner providing mission-focused equity, be contributing 100% of the equity themselves, or using the Freddie Mac Impact Gap Financing offering.
Eligible uses:
Acquisition of unsubsidized affordable properties (aka "naturally occurring affordable housing" or "NOAH")
Affordability requirements:
At least 50% of the units must have affordable rents at 60% / 80% / 100% / 120% area median income (AMI) based on market at the time of origination
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Maximum LTV: 80%. Minimum DCR: 1.20x or 1.25x, subject to underwriting approval.
Additional notes or requirements:
Links to more information:
Impact Gap Financing
Provides Impact Investors the opportunity and infrastructure to invest directly in NOAH preservation efforts in their communities and nationwide by closing capital gaps between Sponsor-provided equity and the Freddie Mac NOAH Preservation Loan.
Details
Eligible home types:
Garden, mid-rise, or high-rise multifamily NOAH properties
Eligible recipients:
501(c)(3) nonprofit organizations with affordable housing preservation as a stated part of its mission and a demonstrated history of successful property ownership
Eligible uses:
Acquisition and preservation of unsubsidized affordable properties (aka "naturally occurring affordable housing" or "NOAH")
Affordability requirements:
At least 50% of the units must have affordable rents at 60% / 80% / 100% / 120% area median income (AMI) based on market at the time of origination
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Maximum LTV: 80%. Minimum DCR: 1.20x or 1.25x, subject to underwriting approval.
Additional notes or requirements:
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:
Multifamily Small Loan Program
Fannie Mae recognizes that owners of smaller properties have specific financing needs, and the Fannie Mae Multifamily Small Loan program has product offerings designed to meet those needs. The Multifamily Small Loan Program offers a streamlined loan process for fixed- and variable-rate mortgage loans up to $9 million nationwide.
Details
Eligible home types:
Conventional properties, Multifamily Affordable Housing properties, and Manufacturing Housing Communities, with 5+ residential units
Eligible recipients:
For-profit and non-profit borrowers
Eligible uses:
Acquisition or refinance of multifamily properties
Affordability requirements:
None
Geography funding is available to :
Nationwide
Maximum financial assistance per project:
Up to $9 million. Maximum LTV: 80%. Minimum DCR: 1.25x.
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:
Small Multifamily Permanent Loan Program (SIMPLE)
SIMPLE provides up to $3 million in uninsured permanent financing for 9 percent Housing Credit projects. With streamlined execution, you can get to loan commitment in as little as 60 days of submitting a complete application. Can be paired with CHFA's gap financing programs (e.g. CHFA Housing Opportunity Fund or Capital Magnet Fund).
Details
Eligible home types:
9% Housing Tax Credit projects
Eligible recipients:
9% Housing Tax Credit developers
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:
$3 million. Lesser of 90% LTV or development costs. Debt Service Coverage: 1.15. 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. CHFA requires an operating reserve sized to six months of underwritten operating expenses and debt service. 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:
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:
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:
CAPABLE Construction and Permanent Affordable Bond Loan
CAPABLE combines construction and permanent financing to provide over $6 million for 4% Housing Tax Credit projects, using a streamlined process only available to housing finance agencies. It offers some of the lowest interest rates due to index pricing associated with Private Activity Bonds, and one of the lowest mortgage insurance premiums in the industry.
Details
Eligible home types:
4% Housing Tax Credit projects only
Eligible recipients:
Developers of 4% Housing Tax Credit projects
Eligible uses:
New construction and acquisition/rehab
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: 1.15. Amount supportable by the project's stabilized net operating income.
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:
PAIRABLE Partnership-to-Perm Affordable Bond Loan
PAIRABLE provides loans of over $6 million in permanent insured financing for 4% Housing Tax Credit projects, featuring some of the lowest interest rates due to index pricing associated with Private Activity Bonds. Pair this with your preferred construction financing partner to help get the deal done on time.
Details
Eligible home types:
4% Housing Tax Credit projects only
Eligible recipients:
Developers of 4% Housing Tax Credit projects
Eligible uses:
New construction and acquisition/rehab
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: 1.15. Amount supportable by the project's stabilized net operating income.
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:
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:

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Housing Development Loan Fund (HDLF)
This program makes loans for development, redevelopment, or rehabilitation of properties serving low- and moderate-income households. This program was created to meet federal matching funding requirements and loans made through this program require collateral.
Details
Eligible home types:
  • Multifamily
  • Single-family
Eligible recipients:
  • Nonprofit developers
  • Housing authorities
Eligible uses:
  • Housing development
  • Housing redevelopment
Affordability requirements:
Consult DOH Housing Development Specialist for latest guidance.
Geography funding is available to :
Statewide
Maximum financial assistance per project:
Varies by activity
Additional notes or requirements:
Links to more information:
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