CHFA announces Multifamily Second Mortgage Program

WASHINGTON, D.C. – March 10, 2015 – (RealEstateRama) — CHFA is offering a Multifamily Second Mortgage Program to help promote economically-integrated neighborhoods and communities by providing financing opportunities to developers and owners of rental housing that specifically targets the creation of rental housing to low-income households in areas within existing or planned Transit-Oriented Development areas, or areas with limited affordable housing.

The Authority has accrued funding from a federal Financing Adjustment Factor (FAF) program restricted to benefit households at or below 50% Area Median Income (AMI).

$25 million is available as a second mortgage financing through this program and is offered on a first come, first service basis.

For product description and program details, please click here.