Lhfa state bond program

STEP 4 — Reserve Funds: The lender will reserve the assistance funds for you with Louisiana Housing Corporation and complete all the remaining processes from loan application to loan closing. Learn More. Use this helpful mortgage calculator to determine your monthly payment amount and help budget for your new home. Go to calculator. Find approved lenders in your area. Learn more. Use LAHousingSearch. PH Rebuilds B. Your Louisiana Housing Connection I want to learn more about New Resilience Soft Second Programs offers up to.

Only available in eligible parishes. Rebuilds B. The Louisiana Housing Corporation offers various programs to make homeownership a reality for the people of Louisiana. MRB Home and Assisted Programs These programs are designed to help prospective homebuyers meet down payment and closing costs on their new home. Delta Program This parish-specific program is available to some low to moderate income, first-time homebuyers in the Delta parishes who may lack traditional credit.

These include sanitation repairs or improvements required by federal, state or local regulation codes, as well aslife safety or security-related improvements. These developments have 40 year use restriction periods and are monitored by the Florida Housing Finance Corporation. Guarantee: The Florida Affordable Housing Guarantee Program is a credit enhancement program that works in concert with federal, state and local government financing sources, as well as other qualified lending institutions.

The Guarantee effectively lowers the overall cost of borrowing capital for the construction and rehabilitation of affordable multifamily rental housing by guaranteeing payment of mortgages that secure multifamily mortgage revenue bonds. This is a non-competitive allocation of tax credits paired with state and local bonds. At least 20 percent of units are to be set aside for households at or below 50 percent of AMI, or at least 40 percent of units are to be set aside for households at orbelow 60 percent AMI.

Rent restrictions are also in place. This is a competitive allocation of tax credits. At least 20 percent of units are to be set aside for households at or below 50 percent of AMI, or at least 40 percent of units are to be set aside for households at or below 60 percent AMI.

Legislative Appropriation: Special appropriations from the Florida Legislature. Includes Rental Recovery Loan Program for construction and rehabilitation of affordable rental housing to respond to hurricane recovery needs and National Mortgage Settlement funds used for affordable rental housing development, homeless housing, and housing for persons with developmental disabilities.

Predevelopment Loan Program PLP : The Predevelopment Loan Program PLP provides below-market interest rate financing and technical assistanceto non-profit organizations for pre-development activities to plan, finance anddevelop affordable housing.

This program has no income or rent restrictions andis therefore only reported in the Assisted Housing Inventory if a development is also funded under programs that do impose restrictions. SAIL: The State Apartment Incentive Loan SAIL program provides low-interest loans on acompetitive basis to affordable housing developers to bridge the gap between the development's primary financing and the total cost of the development.

A minimum of 20 percent of units must be set aside for families earning 50 percent or less of area median income. Developments that also have housing credits may use a minimum set-aside of 40 percent of the units for residents earning 60 percent of area median income. Thereare no rent restrictions. State Bonds: The Multifamily Mortgage Revenue Bond program MMRB uses both taxable and tax-exempt bonds to provide below market rate loans to nonprofit and for-profit developers who set aside a certain percentage of their apartment units for low-income families.

The program requires thatat least 20 percent of the units be set aside for households earning at or below 50 percent of the area median income. The developer may also opt to set aside 40 percent of the units for households earning at or below 60 percent of area median.

There are no rent restrictions. Twenty percent of the units are occupied by families withannual incomes at or below 50 percent of area median income; the balance of theunits must be occupied by families with income that do not exceed 60 percent ofarea median.

These tax-exempt bonds provide financing at lower-than-market rates for affordable multifamily housing developments. Income restrictions are imposed, but no rent restrictions. About FHDC. Unique ID assigned to each land parcel by county property appraisers and submitted to Florida Department of Revenue.

Development name as reported by funding sources former or alternative names provided in brackets. Includes programs administered by the U. Not Ready for Occupancy' means that construction is yet to commence or is underway.

Depending on housing program, earliest year of program funding, year loan started, or year property was first occupied. RD: year of loan closing; HUD: year of final mortgage endorsement, Section 8 contract, or occupancy; Florida Housing: funding year of earliest program, including currently inactive programs; public housing: occupancy date. Federal dollar-for-dollar tax credits that are provided to for-profit and non-profit organizations in exchange for the construction or rehabilitation of affordable housing units.

Provides low interest loans funded through the State Housing Trust Fund. Credit enhancement program that works with government funding sources and other lending institutions to lower the cost of borrowing capital for the construction or rehabilitation of affordable housing.

Both taxable and tax-exempt bonds to provide below market rate loans to non-profit and for-profit developers who set aside a certain percentage of units to low-income families. The HOME program provides non-amortized, low-interest loans to developers for construction or rehabilitation of affordable rental housing.

EHCL provides loans to developers making improvements to elderly housing e. Provides funding for various special needs groups including persons with disabilities, farm workers, extremely low-income, homeless, and elderly.