Financing for Affordable Multifamily Housing
- Developers come to CHFA for financing and tax credits as part of the overall funding plan for their developments. To receive CHFA funding, a portion of the units in the development must be affordable and the project must comply with CHFA's underwriting guidelines and support the State's housing goals.
- CHFA has several types of financing -- tax exempt bond funding, taxable bond funding, and it's own investment trust account. This funding is genreall leveraged with tax credit and other private funds.
Federal Low Income Housing Tax Credits
CHFA is the state's allocating agency for the federal 9% and 4% Low Income Housing Tax Credits (LIHTCs).
These tax credits provide a dollar-for-dollar reduction in federal tax liability for investors and millions of dolloars in equity to developers that can be leveraged with private funds to build affordable housing. Each year there are competitive funding rounds for the 9% LIHTCs; the 4% LIHTCs are non-competitive funding and allocated by CHFA. Click here for a list of current awards.
Applications are rated and ranked