Multi-Family Housing
Development
Loans and grants are provided to finance
rental and cooperatively owned housing of modest size, design and cost for very low-,
low-, and moderate-income households. Special emphasis is placed on needs of the elderly
and handicapped. Options include:
Rural Rental Housing -
Direct Loans (Section 515)
Under the Multi-Family Housing
Direct Loan program, the Housing and Community Facilities Programs makes direct loans to developers of
affordable rural multi-family rental housing. Interest rates for these programs may be
subsidized to as low as 1%. Funds can be used to construct new rental housing complexes or
to repair and rehabilitate existing units.
For more information about
this program, click here.
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Rural Rental Housing Guaranteed Loan
Program (Section 538)
This program, like the direct loan
program, is intended to fund construction of multi-family housing units to be
occupied by low-income families. The Rural Housing
Programs guarantees up to 90% of the
amount of a loan from a private lender to a housing developer to be used for the
construction of low-income multi family housing.
Occupants of the completed housing project
must be very low- to moderate-income households; or elderly, handicapped, or disabled
persons with income not in excess of 115% of the median income of the surrounding area.
For more information about this
program, click here.
Farm Labor Housing
Low-interest loans and grants are
made to public and nonprofit entities (or to individual farmers) for the construction of
farm labor housing. HCFP is the only national entity providing funding for this use.
Farm Labor Housing Technical Assistance Grants are
provided to contractors to assist public and private nonprofit agencies to meet special
needs of farm laborers.
For more information about this
program, click here.
Housing Preservation
Grant Program (Section 533)
The Housing Preservation Grant
Program makes grants to nonprofit organizations, local governments and Native
American tribes to renovate existing low-income multifamily rental units. Funds may also
be used by recipients to help individuals make repairs to private homes.
Funds can be used to upgrade a number of individual
housing units, which in some cases affects the housing options in an entire community.
Recipients of Housing Preservation Grants are often able to leverage the funds with
additional resources from private sources or local governments.
For more information about this
program, click here.
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Housing Application Packaging
Grants
This program provides government
funds to tax-exempt public agencies and private non-profit organizations to package
applications for submission to Housing and Community Facilities Programs. Packagers assist very low- and
low-income applicants with the application process by prescreening, making preliminary
eligibility determinations, ensuring the application is complete, and helping the
applicant understand the program.
Packagers receive training from
the Agency and receive a certificate to participate in the program. The certificate
qualifies the grantee to package applications for one year which ends September 30.
The packager may receive a fee to submit complete application packages to HCFP.
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