MHP funds will be provided as permanent financing only and may be used to take out construction loans for capital projects involving new construction, rehabilitation, acquisition and rehabilitation, or conversion of nonresidential structures. MHP funds may also be used to capitalize project reserves, including rent subsidy reserves for extremely low-income households. Program funds may not be used for supportive services . The maximum loan amount per assisted unit varies based on the financing structure of the project. Any individual, public agency or private entity capable of entering into a contract is eligible to apply, provided that they or their principals have successfully developed at least one affordable housing project.
Projects are ineligible if they have completed construction or rehabilitation.
No facsimiles or late applications will be accepted. Please see application for further details.