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:
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.
Middle Income Access Program (MIAP)
The Middle Income Affordable Development (MIDDLE) program 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 60 percent and 120 percent Area Median Income (AMI).
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.
CAPABLE Construction and Permanent Affordable Bond Loan
CAPABLE combines construction and permanent financing to provide over $6 million for 4% LIHTC projects. 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 (0.125%).
PAIRABLE Partnership-to-Perm Affordable Bond Loan
PAIRABLE provides loans of over $6 million in permanent insured financing for 4% LIHTC 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.
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 (0.125%).
Impact Development Fund
Impact Development Fund (IDF) is a nonprofit Community Development Financial Institution (CDFI) who provides financing to nonprofit, for-profit and local agency developers seeking to expand and improve the inventory of rental and owner-occupied housing.
Enterprise Community Loan Fund
Enterprise Community Loan Fund helps revitalize communities by providing innovative capital to help build and preserve well-designed affordable homes with access to good jobs, schools, transportation and healthy living environments.
Triple Bottom Line Foundation (TBL Fund) helps finance clean energy projects for multifamily affordable housing. Investments in TBL Fund help preserve affordable housing, create local jobs, and address climate change, among other social, economic, and environmental benefits.
Community Housing Capital
Community Housing Capital (CHC) is certified as a community development financial institution (CDFI) and a community development entity (CDE) by the U.S. Treasury’s CDFI Fund. As a national CDFI, CHC aggregates loan capital to finance the creation and preservation of affordable housing. To fulfill its mission, CHC provides predevelopment, acquisition, construction, and permanent multifamily and single-family loans, directly and exclusively, to the high-performing, nonprofit developers of the NeighborWorks® network.
Corporation for Supportive Housing
The Corporation for Supportive Housing (CSH) is a national CDFI that helps communities create permanent housing with services to prevent and end homelessness. We fulfill our mission by providing technical assistance, training, grants, and loans to project sponsors, service providers, affordable housing developers, and government partners, and by advocating for a more favorable policy environment for supportive housing creation and operation. Lending is integral in our approach to fostering supportive housing creation at scale.
The Housing Partnership Network created the Housing Partnership Fund (HPF) in 2001 as its lending arm to meet its members’ growing needs for flexible, early stage financing for affordable housing development. Nationally, HPF serves nonprofit developers focused solely on uplifting low-income populations, using housing as a platform to leverage better health, school, and personal wealth building outcomes. The Fund raises capital from major private, public and philanthropic institutions to drive impact through its investments in members and HPN social enterprises. HPF is a US Treasury certified Community Development Financial Institution (CDFI) and has a AA Four Star Policy Plus rating from Aeris.
NeighborWorks Capital delivers the flexible capital needed by NeighborWorks America affiliates to provide affordable homes and strengthen communities. NeighborWorks Capital is a national non-profit, certified Community Development Financial Institution and rated by Aeris-Insight.
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. PGC moves the economy forward by financing community development and encouraging community engagement.
Founded in 1978, Rural Community Assistance Corporation (RCAC) is a 501(c)(3) nonprofit organization that provides training, technical and financial resources and advocacy so rural communities can achieve their goals and visions.
HUD 221(d)(4) Mortgage Insurance for Rental and Cooperative Housing
Section 221(d)(4) insures mortgage loans to facilitate the new construction or substantial rehabilitation of multifamily rental or cooperative housing for moderate-income families, elderly, and the handicapped. Single Room Occupancy (SRO) projects may also be insured under this section.
Rural Housing Site Loans (aka Section 523 Mutual Self-Help Housing Program and Section 524 loans)
Loans to non-profit, tribes and municipal organizations to purchase and develop housing sites for low- and moderate-income families. Section 523 loans are used to acquire and develop sites only for housing constructed via the Self-Help method (where households construct the homes themselves, with technical assistance from the grantee), while Section 524 loans are not restricted to a specific construction method.
Self-Help Homeownership Opportunity Program (SHOP)
The Self-Help Homeownership Opportunity Program (SHOP) awards grant funds to eligible national and regional nonprofit organizations and consortia to purchase home sites and develop or improve the infrastructure needed to set the stage for sweat equity and volunteer-based homeownership programs for low-income persons and families.
The Low-Income Housing Tax Credit provides an incentive for investors to invest in affordable housing construction and preservation via a tax credit. It is available as a competitive credit (9%), scored based on criteria in CHFA's Qualified Allocation Plan, or a non-competitive credit (4%), available to any project that receives at least 50 percent of their funding through tax-exempt bond financing (e.g. Private Activity Bonds) may claim this smaller tax credit without receiving a specific allocation from CHFA.