HDF offers a wide variety of financing products to promote and facilitate the rehabilitation, new construction, and preservation of affordable housing for low- and moderate-income households, including multifamily housing, seniors housing, and special needs housing. HDF is one of the only local sources of long-term, below market financing for affordable housing in our service area. Please also review our Underwriting Guidelines, which outlines the costs, benchmarks, and required reports necessary for each lending product.

Permanent Financing
HDF is one of the only funds in our service area to provide 30-Year Fixed Rate financing at competitive market rates to affordable housing developers and owners. We also offer the refinancing of existing loans.

Pre-development Financing
HDF offers predevelopment loans at nominal interest rates to affordable housing owners and developers. Predevelopment loans are usually the first dollars into a project, and often the most difficult type of financing to access because they cover expenses accrued even before construction begins. Such soft costs include: land or building acquisition, site stabilization, interim maintenance, environmental surveys, appraisals, taxes, insurance coverage, as well as legal, architectural and consultant fees. Preference is given to projects also submitted to HDF for permanent financing.

Bridge Financing
HDF can provide short-term acquisition loans when other sources of financing have been identified to make it easier for developers, particularly non-profits, to make projects work. In addition to acquisition, this type of financing can be for other activities necessary to take title to the property.

Acquisition/Rehabilitation Financing
HDF provides short-term acquisition loans with a rehabilitation component to affordable housing owners and developers.

Construction Financing
HDF provides construction loans to build from the ground up or to provide major rehabilitation to an affordable housing development.

How to Apply
Please review the information here.

In addition, it is recommended that you review our Frequently Asked Questions for information on our general process, lending area, and underwriting guidelines.