Provide Pre-development and Acquisition Financing
Goal: Increase the Availability of Affordable Homes
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
What is pre-development and acquisition financing?
compete for land and meet local affordable housing needs. For example,
cohousing communities provide many advantages for older adults who wish to age in place, but start-up costs can be prohibitive. Greater access to predevelopment funding could help prospective cohousing communities advance beyond the planning stages. (Learn more about cohousing.)
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
What is pre-development and acquisition financing?
| Pre-development and acquisition financing is essential for paying the many housing development expenses that are incurred before breaking ground. Obtaining financing for these expenses is difficult in good economic times -- especially for small non-profits. Challenging economic times, of course, make it even more so. A number of state and local governments have developed loan programs to cover these costs, thereby facilitating and expanding development activity for affordable homes. Some of these programs have been curtailed in the economic downturn, but many remain. Pre-development expenses include a variety of costs related to determining the feasibility of a particular project, such as the costs of preliminary financial applications, legal fees, architectural fees, and engineering fees. These costs are sometimes referred to as soft costs. Acquisition expenses refer to any costs associated with obtaining control of the site. Since these costs are incurred before construction begins, traditional lenders often consider pre-development and acquisition loans to be high-risk and set the interest rates at levels that make it infeasible for smaller organizations to get projects off the ground. Many states and some local lending programs provide low-cost financing for pre-development and acquisition expenses to help increase the availability of affordable homes. How does pre-development and acquisition financing increase the availability of affordable homes? While larger non-profit and for-profit organizations may be able to use reserves or lines of credit to pay for pre-development and acquisition expenses, these costs can be a major obstacle for smaller, community-based non-profit organizations. Indeed, when competing for larger properties in desirable locations, even larger non-profits and for-profits interested in building affordable homes may have difficulty marshalling the funds for acquisition in a timely and cost-competitive manner. By offering loans for pre-development and acquisition expenses, state and local governments can make it easier for affordable housing developers to | Solutions in Action |
 Via Roble, in Escondido, California, is a mixed-income rental and homeowner community, which received pre-development and acquisition financing through California's Housing Enabled by Local Partnerships (HELP) Program. Although the program has been temporarily suspended, a HELP award of $1.85 million to the city of Escondido assisted with the site acquisition of Via Roble, as well as its development and rehabilitation. Click here to view more examples of programs at the state level. Visit the Gallery to learn more about Via Roble. |
cohousing communities provide many advantages for older adults who wish to age in place, but start-up costs can be prohibitive. Greater access to predevelopment funding could help prospective cohousing communities advance beyond the planning stages. (Learn more about cohousing.)
| Role of the Neighborhood Stabilization Program In the wake of the mortgage foreclosure crisis, many communities have a surplus of foreclosed and abandoned properties that, when inadequately secured and maintained, can destabilize entire neighborhoods and adversely impact nearby property values. The Neighborhood Stabilization Program (NSP), which was authorized in 2008 as part of the Housing and Economic Recovery Act, helps to address these issues by making available $3.92 billion in formula grants to state and local governments. The Act specifies five eligible uses for NSP funds, including the establishment of financing tools for the purchase and redevelopment of foreclosed homes. Click here to visit our sister site, Foreclosure-Response.org and learn more about the acquisition and redevelopment of foreclosed properties. |
 Learn more about pre-development and acquisition financing Go back to learn about other policies that generate capital |
Goal: Increase the Availability of Affordable Homes
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
How does pre-development and acquisition financing work?
Pre-development and acquisition financing is provided by both state and local governments to assist with the early expenses associated with developing affordable homes. Some communities offer loans that are restricted to the costs related to just pre-development or just acquisition while other communities have broader programs that can be used to finance both types of expenses. The loans generally have low or no interest and may be deferred (i.e., not paid back) until the development has received permanent financing, which can be used to repay the pre-development loans.
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
How does pre-development and acquisition financing work?
Pre-development and acquisition financing is provided by both state and local governments to assist with the early expenses associated with developing affordable homes. Some communities offer loans that are restricted to the costs related to just pre-development or just acquisition while other communities have broader programs that can be used to finance both types of expenses. The loans generally have low or no interest and may be deferred (i.e., not paid back) until the development has received permanent financing, which can be used to repay the pre-development loans.
| Some communities will forgive pre-development loans if permanent financing cannot be obtained, an important feature that allows affordable housing developers to investigate alternative sites and pick only those most likely to succeed. Financing is typically provided through a revolving loan fund that recycles the assistance to support many affordable housing developments over time. Funds for the loan programs come from various sources including housing trust funds, appropriations, and allocation of federal HOME dollars. Communities that do not currently have a pre-development or acquisition program may wish to consider starting one to expand the capacity of non-profits and small for-profits to produce affordable homes. Communities that already have a program may wish to consider expanding its funding and/or the outreach needed to ensure a steady stream of applications. Since the ability to use these funds successfully requires affordable housing developers with high capacity, communities with an undersupply of developers may wish to consider supplementing a loan fund with technical assistance and other efforts to build the necessary capacity. One promising approach to building capacity among smaller organizations is to provide a steady stream of operating revenue tied to developmental milestones. Communities can also facilitate access to funds for pre-development and acquisition expenses in ways other than providing direct financing. Loan guarantees or credit enhancements can help reduce the interest rate on private financing. Policies that permit or encourage non-profit housing developers to accumulate more working capital can also help by allowing non-profits to fund their own pre-development and acquisition costs. | The Role of CDFIs Community Development Financial Institutions (CDFIs) help to make credit and other financial services available to nonprofit organizations, affordable housing developers, and other entities and individuals that may not be served by traditional financial institutions. These mission-driven, private-sector institutions focus solely on community development initiatives, and may be incorporated as banks, credit unions, community development corporations, and in other forms. The US Department of the Treasury certifies CDFIs and provides competitive grants to support their activity through the CDFI Fund. While CDFIs' mission is broader than affordable housing, these institutions can play an important role in providing predevelopment and acquisition funding to small nonprofit developers. For example, in addition to working with partners to build or renovate homes in North Carolina, the Durham-based Center for Community Self-Help - one of the country's largest CDFIs - offers loans to support the purchase of homes to be used for supportive housing for people with disabilities. Similarly, Urban Partnership Bank, a Chicago-based CDFI, provides lines of credit that enable developers to purchase vacant single-family homes and small multifamily properties for redevelopment as affordable homes. The Florida Community Loan Fund supports nonprofit organizations through acquisition and site control loans for the purchase of affordable homes, including affordable rentals that have expiring federal subsidy contracts. |
| Solutions in Action |
| Low Income Investment Fund The Low Income Investment Fund (LIIF) is a Community Development Financial Institution that serves low-income families and communities through investments in affordable housing, childcare, education, and related community development projects. To support acquisition and development of affordable homes, LIIF makes available predevelopment and acquisition loans of up to $3.5 million to nonprofit organizations, mission-based for-profits, and public and quasi-public entities. As of 2008, LIIF helped to make available 54,000 units of affordable housing and invested nearly $500 million in capital and technical assistance to affordable and special needs housing developers. Visit LIIF's web page to learn more about their work. |
Click on the links below to learn more about what communities can do to provide pre-development and acquisition financing: State programsFind examples of state programs for pre-development and acquisition financing. Examples include Nebraska, California, and Mississippi. Local programsSome local governments have also created loans or loan guarantee programs to facilitate access to pre-development and acquisition financing. Examples include New York City and Washington, DC. |
Goal: Increase the Availability of Affordable Homes
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
State Programs
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
State Programs
Many states across the country have lending programs that provide pre-development and acquisition financing for affordable homes. These programs are often administered by the state housing finance agency. Typically, states loan money directly to the organization that will be developing the homes; however, at least one state also loans money to local governments to support locally-administered pre-development and acquisition loans.
| An extended list of examples of these programs has been provided below to help interested organizations identify funding sources for pre-development and acquisition funding and to help states interested in developing or improving a program to understand what other states are doing. Because these programs are often similar to one another, other readers may find it sufficient to review one or two examples. To switch to reading about local programs, click here. To navigate through the examples of state programs that provide pre-development or acquisition financing, click on the links in the box to the right. Or just scroll and read below. Connecticut Pre-Development Loan Program Connecticut's Pre-Development Loan Program provides no-interest loans to cover pre-development expenses associated with the construction or rehabilitation of homes affordable for low- and moderate-income households. The maximum loan is $250,000 and is repayable upon receipt of permanent financing. The state may forgive loans if permanent financing cannot be obtained. To find out more about this program, see the Connecticut Department of Economic and Community Development web site. Back to top | Jump to examples in... |
| Connecticut Delaware Florida Georgia Maine Mississippi Nebraska New Hampshire New Mexico North Carolina Oregon South Carolina Washington | |
Delaware Housing Development Fund Pre-Development Loans The Delaware State Housing Authority's Housing Development Fund Pre-Development Loans are funded in part through the state's HOME allocation. Loans are made to non-profit organizations to cover acquisition and pre-development expenses associated with the development of homes for low- and moderate-income households. Repayment is due upon receipt of construction financing, although the loan may be waived if development cannot proceed due to factors outside of the borrower's control. To find out more about this program, see this PDF. Back to top Florida Pre-Development Loan Program The Florida Housing Finance Corporation offers the Pre-development Loan Program to non-profits, local governments, and public housing authorities seeking to increase the supply of affordable housing. The maximum loan for pre-development expenses is $500,000; the maximum loan for pre-development and site acquisition is $750,000. Interest rates generally fall between 1 and 3 percent. In order to qualify for the Pre-development Loan Program, at least 60 percent of the units in rental developments must be affordable for households earning 60 percent of Area Median Income (AMI); in homeownership developments, at least 50 percent of the units must be affordable for households earning 80 percent of AMI and the remainder must be affordable to households at or below 120 percent of AMI. Technical assistance is provided to ensure that applicants have a feasible plan for obtaining construction and permanent financing. Repayment is deferred for three years or until construction or permanent financing is obtained. In 2008, the PLP provided nearly $6.8 million in rental housing pre-development loans and over $1.4 million in homeownership pre-development loans. In total, PLP helped create 178 affordable single-family homes and 446 affordable rental homes in complexes that also included 295 market-rate rentals. Funding comes from the State Housing Trust Fund. For more information on this program, see the Florida Housing Finance Corporation web site. Funding statistics can be found in their 2008 annual report [PDF]. Back to top Georgia CHDO Predevelopment Loan Program (CPLP) The CHDO Predevelopment Loan Program (CPLP) is provided by the Georgia Department of Community Affairs out of its HOME allocation. The total size of the fund is $150,000 per year, while the maximum size of individual loans is $30,000. In order to qualify for financing, applicants must be non-profits that are certified as Community Housing Development Organizations (CHDO). Both rental and homeowner developments are eligible for funding. Predevelopment loans are interest-free and carry a term of up to 24 months. If the development is determined to be infeasible, the state may waive repayment of the loan. For more information on this program, see the Georgia Department of Community Affairs web site. Back to top Maine Revolving Loan for Acquisition Program The Maine State Housing Authority's Revolving Loan for Acquisition Program loans up to $300,000 for the acquisition or land or land and buildings for affordable housing development. Repayment is deferred until permanent financing is obtained or a maximum of 24 months. Developments must also either qualify and apply for Low-Income Housing Tax Credits or create supportive housing. One third of any loan has no interest and two-thirds has a 3% interest rate. The loan program has $2,100,000 in funding -- partly from a state affordable housing bond and partly from Maine Housing's bond funds. For more information on this program, see the Maine Housing web site. Back to top Mississippi Affordable Housing Development Fund The Mississippi Affordable Housing Development Fund is a revolving loan fund that provides pre-development and acquisition financing as well as construction and rehabilitation loans. Loans are made for rental homes that are affordable to households earning 60% or less of AMI and to homeownership developments that will be affordable to households at or below 115% of AMI. A Land Use Restrictive Agreement will ensure affordability for at least 15 years. Interest rates may be as low as 3 percent, and loans may be amortized or deferred with repayment due within 3 years. Priority is given to developments that serve broader state goals such as housing for senior citizens and developments with resident management or other self-sufficiency programs. For more information on this program, see the Mississippi Home Corporation web site. Back to top Nebraska Pre-Development Revolving Loan Fund The Nebraska Investment Finance Authority (NIFA) created the Predevelopment Revolving Loan Fund which loans between $5,000 and $20,000 to non-profit community-based housing developers or public housing authorities. The interest rate is 3 percent for loans without matching funds; no-interest loans are made if the developer has obtained matching funds equal to at least 25% of the value of the pre-development loan. Interest and principal are deferred until permanent financing is obtained or for no more than 18 months. For more information on this program, see the Nebraska Investment Finance Authority web site. Back to top New Hampshire Technical Assistance Program New Hampshire Housing's Technical Assistance Program provides no-interest, deferred loans for pre-development expenses associated with the development of affordable homes. The loans are funded by the state's Affordable Housing Fund and HOME allocation. Repayment is due upon receipt of construction financing and may be waived if the development plans cannot be implemented for reasons beyond the borrower's control. The program's standard loan limit of $30,000 may be raised to $45,000 if the development will be in a community with a very low percentage of non-senior rental homes. For more information on this program, see the New Hampshire Housing web site. Back to top New Mexico Primero Loan Program The New Mexico Mortgage Finance Authority's Primero Loan Program began in 1993 as a source of pre-development and acquisition financing and was expanded in 2002 to provide financing for all other stages in the development of affordable rental or special needs housing when other financing is not available. The maximum loan is $1 million. Repayment is due within 5 years or upon receipt of subsequent financing. For more information on this program, see the New Mexico Mortgage Finance Authority web site's Primero Loan pages for rental housing development and for single-family housing development. Back to top North Carolina Supportive Housing Development Program The North Carolina Housing Finance Agency provides limited pre-development loans as part of its larger Supportive Housing Development Program. Loans of up to $25,000 are available for non-profits and local governments to develop emergency, transitional, and permanent service-enriched housing for the homeless and/or people with disabilities. For more information on this program, see the North Carolina Housing Finance Agency web site. Back to top Oregon Pre-Development Loan Program Oregon's Predevelopment Loan Program provides below-market interest loans of $40,000 to $1.5 million to cover acquisition and predevelopment expenses for the construction or acquisition and rehabilitation of affordable homes. Loans of more than $500,000 are due in no more than six months; loans of $500,000 or less are due within two years. Developments funded by this program must have either 20 percent of units affordable for households earning 50 percent Area Median Income (AMI) or 40 percent of units affordable for households earning 60 percent of AMI. Up to one-third of units may be affordable to households earning more than 120 percent of AMI. Both rental and homeownership developments with at least five units are eligible for funding. For more information on this program, see the Oregon Department of Housing and Community Services web site. Loan Guarantee Program Oregon's Loan Guarantee Program provides guarantees of up to 25 percent of the principal of loans for the acquisition and rehabilitation of affordable homes, or for new construction. Developments that receive loan guarantees should include homes that are affordable to households earning 80 percent of AMI or less. An annual fee of 1 percent of the guarantee amount is charged. Mixed-income developments may receive a smaller loan guarantee than fully affordable developments. For more information on this program, see the Oregon Department of Housing and Community Services web site. Back to top South Carolina CHDO Pre-Development Loan Program South Carolina's CHDO Pre-Development Loan program uses a portion of the state's HOME funds - federal block grants provided so that states can increase the supply of affordable housing -- to provide loans for predevelopment and site acquisition costs. Funds are only open to certified Community Housing Development Organizations (CHDO) -- non-profits who meet a number of criteria outlined by the U.S. Department of Housing and Urban Development (HUD). CHDO Pre-Development loans have no interest and are available first-come, first-serve on a non-competitive basis. The maximum loan is $150,000 and can either be an amortizing loan or a deferred loan which must be repaid upon receipt of construction financing. The state may forgive the loan if it determines that the project is infeasible or can not be completed for reasons beyond the applicant's control. For more information on this program, see the South Carolina State Housing Finance and Development Authority web site. Back to top Washington Land Acquisition Program In 2007, Washington State created a land acquisition pilot program to facilitate the development of affordable homes. The state has leveraged its initial $1 million appropriation to raise nearly $1 million more for the fund. The land acquisition program is a revolving loan fund that can be used to acquire sites for the development of affordable homes or facilities for the provision of supportive services. Development should occur within 8 years, and repayment of the loans is also due within 8 years or upon receipt of construction financing. Homes should be affordable to households at or below 80 percent of AMI for at least 30 years. For more information on this program, see the Washington State Housing Finance Commission web site. Back to top | |
| You are currently reading: State programs Find examples of state programs for pre-development and acquisition financing. Examples include Nebraska, Vermont, California, and Mississippi. Other pages in this section: Local programsSome local governments have also created loans or loan guarantee programs to facilitate access to pre-development and acquisition financing. Examples include New York City and Washington, DC. |
Goal: Increase the Availability of Affordable Homes
Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
Local Programs
In addition to programs offered by state housing finance agencies, some local governments also provide pre-development and/or acquisition loans or loan guarantees. Some local financing programs, such as in New York and Oakland, provide financing for a broad range of affordable housing developments by both non-profit and for-profit developers. Other
New York, New York
New York Acquisition Fund
The $230 million New York Acquisition Fund used $8 million from the city's housing trust fund, combined with $32 million in loan guarantees from private philanthropic organizations, to leverage more than $192 million in private financing in order to facilitate site acquisition for the construction or preservation of thousands of affordable homes.
The fund provides loans at a level just below (approximately 60 basis points) the prime rate. Financing is available to both non-profit and for-profit developers.
The fund, which was established in 2005, expects to create or preserve 30,000 affordable rental, homeownership, and supportive housing units over the next decade. Recently, the fund has provided acquisition and predevelopment financing for three new supportive and low-income housing developments as well as for the preservation of over 280 affordable apartments in six buildings.
For more information, see the New York Acquisition Fund's web site.
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Oakland, California
Pre-Development Loan Program
The Oakland Community and Economic Development Agency (CEDA)'s Pre-Development Loan Program provides pre-development loans of up to $35,000 (and up to $75,000 in the Central District) for non-profit affordable housing developers. The planned developments can include rental or homeownership homes, and at least 40 percent of the units must be affordable for households earning less than or equal to 80 percent of the Area Median Income (AMI). In order to receive the loan, applicants must raise matching funds from non-city sources equal to at least half of the requested loan amount. The loan has a 6 percent interest rate and must be repaid upon receipt of permanent financing or within 18 months.
For more information on this program, see the Oakland Community and Economic Development Agency web site.
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Portland, Oregon
Acquisition Financing Loan Program
The Portland Development Commission provides loan guarantees, as needed, for acquisition loans made by Enterprise Community Partners as part of the Acquisition Financing Loan Program. Financing is provided at a 6 percent interest rate to non-profit developers for the acquisition of property for the construction or preservation of affordable housing within the city of Portland. Funds may also be used to cover pre-development expenses. Repayment is due upon receipt of construction financing or after 24 months. Eligible developments include rental housing affordable at or below 60 percent of median family income (MFI), homeownership housing affordable at or below 100 percent of MFI, or mixed-use or mixed-income projects with units meeting one of these affordability guidelines.
For more information on this program, see the Portland Development Commission web site.
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Washington, DC
Site Acquisition Funding Initiative (SAFI)
The Site Acquisition Funding Initiative (SAFI) of Washington, DC's Department of Housing and Community Development provides access to acquisition and pre-development funding for non-profit affordable housing developers. SAFI consists of a $20 million revolving loan which can be used for site acquisition and pre-development expenses associated with the construction or rehabilitation of affordable rental or homeownership homes. For more information on this program, see the Washington, DC Department of Housing and Community Development web site.
McKinney Act Loans
Another financing source for pre-development and acquisition expenses in Washington, DC is the DC Housing Finance Agency's McKinney Act Loans. McKinney Act Loans can be used for expenses related to acquisition, pre-development, and rehabilitation of homes affordable to very low-income households. The funds can be used by tenant groups seeking to purchase their building under DC's Right of First Refusal law, by non-profit organizations developing affordable service-enriched housing, or to pay for pre-development expenses associated with the development of affordable homes. Loans are generally under $300,000 and carry an interest rate of 2 percent below prime with a 1 percent origination fee. Repayment is due within 2 years.
For more information on this program, see the DC Housing Finance Agency web site.
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Role: Generate Capital
Policy: Provide Pre-development and Acquisition Financing
Local Programs
In addition to programs offered by state housing finance agencies, some local governments also provide pre-development and/or acquisition loans or loan guarantees. Some local financing programs, such as in New York and Oakland, provide financing for a broad range of affordable housing developments by both non-profit and for-profit developers. Other
| local financing programs, such as Washington DC's McKinney Act Loans, are crafted to assist with more limited types of affordable housing. To switch to reading about state programs, click here. To navigate through the examples of local programs, click on the links in the box to the right. Or just scroll and read below. | Jump to examples in... |
| New York, New York Oakland, California Portland, Oregon Washington, DC |
| From the Forum... "As the market for housing near transit heats up, the threat exists for many affordable apartments to be converted to market rate housing. Are there specific strategies states and localities are adopting to preserve affordable housing near transit?" See what other people said, including a description of Atlanta's BeltLine Affordable Housing Trust Fund, which makes available funds for targeted acquisition of affordable housing near transit, and add your response. The HousingPolicy.org Forum is a place to pose questions, exchange ideas, and learn from the experience and expertise of others. This section of the site features interactive forums organized around policy areas. |
New York, New York
New York Acquisition Fund
The $230 million New York Acquisition Fund used $8 million from the city's housing trust fund, combined with $32 million in loan guarantees from private philanthropic organizations, to leverage more than $192 million in private financing in order to facilitate site acquisition for the construction or preservation of thousands of affordable homes.
The fund provides loans at a level just below (approximately 60 basis points) the prime rate. Financing is available to both non-profit and for-profit developers.
The fund, which was established in 2005, expects to create or preserve 30,000 affordable rental, homeownership, and supportive housing units over the next decade. Recently, the fund has provided acquisition and predevelopment financing for three new supportive and low-income housing developments as well as for the preservation of over 280 affordable apartments in six buildings.
For more information, see the New York Acquisition Fund's web site.
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Oakland, California
Pre-Development Loan Program
The Oakland Community and Economic Development Agency (CEDA)'s Pre-Development Loan Program provides pre-development loans of up to $35,000 (and up to $75,000 in the Central District) for non-profit affordable housing developers. The planned developments can include rental or homeownership homes, and at least 40 percent of the units must be affordable for households earning less than or equal to 80 percent of the Area Median Income (AMI). In order to receive the loan, applicants must raise matching funds from non-city sources equal to at least half of the requested loan amount. The loan has a 6 percent interest rate and must be repaid upon receipt of permanent financing or within 18 months.
For more information on this program, see the Oakland Community and Economic Development Agency web site.
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Portland, Oregon
Acquisition Financing Loan Program
The Portland Development Commission provides loan guarantees, as needed, for acquisition loans made by Enterprise Community Partners as part of the Acquisition Financing Loan Program. Financing is provided at a 6 percent interest rate to non-profit developers for the acquisition of property for the construction or preservation of affordable housing within the city of Portland. Funds may also be used to cover pre-development expenses. Repayment is due upon receipt of construction financing or after 24 months. Eligible developments include rental housing affordable at or below 60 percent of median family income (MFI), homeownership housing affordable at or below 100 percent of MFI, or mixed-use or mixed-income projects with units meeting one of these affordability guidelines.
For more information on this program, see the Portland Development Commission web site.
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Washington, DC
Site Acquisition Funding Initiative (SAFI)
The Site Acquisition Funding Initiative (SAFI) of Washington, DC's Department of Housing and Community Development provides access to acquisition and pre-development funding for non-profit affordable housing developers. SAFI consists of a $20 million revolving loan which can be used for site acquisition and pre-development expenses associated with the construction or rehabilitation of affordable rental or homeownership homes. For more information on this program, see the Washington, DC Department of Housing and Community Development web site.
McKinney Act Loans
Another financing source for pre-development and acquisition expenses in Washington, DC is the DC Housing Finance Agency's McKinney Act Loans. McKinney Act Loans can be used for expenses related to acquisition, pre-development, and rehabilitation of homes affordable to very low-income households. The funds can be used by tenant groups seeking to purchase their building under DC's Right of First Refusal law, by non-profit organizations developing affordable service-enriched housing, or to pay for pre-development expenses associated with the development of affordable homes. Loans are generally under $300,000 and carry an interest rate of 2 percent below prime with a 1 percent origination fee. Repayment is due within 2 years.
For more information on this program, see the DC Housing Finance Agency web site.
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| You are currently reading: Local programs Some local governments have also created loans or loan guarantee programs to facilitate access to pre-development and acquisition financing. Examples include New York City and Washington, DC. Other pages in this section: State programsFind examples of state programs for pre-development and acquisition financing. Examples include Nebraska, California, and Mississippi. |