Financing Affordable Housing Development

Multifamily Bond Programs

Overview

The Corporation has helped finance more than $600 million in affordable housing through its private activity bond and direct lending products. Our financial tools and land bank program help developers build better housing for working families. In partnership with experienced nonprofit and for-profit affordable housing developers we’ve assisted thousands of families across the State of Texas.  Click on the program descriptions below for more information about our loan and land banking programs.

Affordable Communities of Texas Initiative

The Affordable Communities of Texas is the first statewide land banking program focused on affordable housing. We’ve acquired more than 350 homes and vacant lots that are being redeveloped by our network of more than 20 local partners. Using a variety of land bank and land trust strategies the Corporation reduces costs for locally based housing developers, helps stabilize communities with high rates of foreclosure and creates hundreds of new affordable housing opportunities. For more information about the Affordable Communities of Texas initiative click on the link included on this page.

Multifamily Direct Lending Programs

Our Multifamily Direct Lending Program provides both permanent and short term loans to developers working to create or preserve affordable rental housing.  By leveraging private investments from individuals, foundations and financial institutions we’ve helped finance more almost 2,000 units of housing for low and very-low income families. For more information about the Multifamily Direct Lending Program click on the link included on this page.

 

Construction Loans

The Corporation also provides acquisition and interim construction loans for the development of single family affordable homes. Our funds are targeted to rural and underserved communities that need new housing for working families earning less than 80% of the median income. We focus on working with local developers that have experience and knowledge of local housing needs. For applications and policies go to the Interim Construction and Land Acquisition Loan Program website.

 

 

Multifamily Bond Finance

The Corporation is an authorized issuer of tax exempt and taxable bonds.  Through our Multifamily Private Activity Bond and 501(c)(3) Bond programs we’ve helped create thousands of affordable housing units in the past 12 years. We focus our financing on critical housing needs in Texas like service enriched housing for the elderly and special needs populations, housing in rural communities, and restoring housing affected by natural disasters.  For more information about the Multifamily Private Activity Bond, or 501(c)(3) Bond programs click on the links included on this page.