A qualified small issue bond is a bond issued by a small issuer with an average annual bonded indebtedness of $10 million or less. This type of bond is intended to provide financing opportunities for smaller entities that may not have access to other forms of financing. A qualified mortgage bond, on the other hand, is a bond issued for financing the acquisition, construction, or refinancing of one- to four-family residential rental property. The proceeds from this type of bond are used to provide affordable housing for individuals and families.