Multifamily Housing Program (MHP)
NEW Proposed Uniform Multifamily Regulation Changes.
Assist the new construction, rehabilitation and preservation of permanent and transitional rental housing for lower income households.
Deferred payment loans with a 55-year term; 3 percent simple interest on unpaid principal balance. Payments at 0.42 percent are due annually with the balance of principal and interest due and payable upon completion of loan term.
New construction, rehabilitation, or acquisition and rehabilitation of permanent or transitional rental housing, and the conversion of nonresidential structures to rental housing. Projects are not eligible if construction has commenced as of the application date, or if they are receiving 9 percent federal low-income housing tax credits.
MHP funds will be provided for post-construction permanent financing only. Eligible costs include the cost of child care, after-school care, and social service facilities integrally linked to the assisted housing units; real property acquisition; refinancing to retain affordable rents; necessary on-site and off-site improvements; reasonable fees and consulting costs; and capitalized reserves.
Local public entities, for-profit and nonprofit corporations, limited equity housing cooperatives, individuals, Indian reservations and Rancherias, and limited partnerships in which an eligible applicant or an affiliate of an applicant is a general partner. Applicants or their principals must have successfully developed at least one affordable housing project.
Applications are invited through the issuance of Notices of Funding Availability (NOFAs).
Loan Closing Documents
MHP Specific Documents
- Deed of Trust (DOC)
- Promissory Note (DOC)
- Promissory Note Secured by Deed of Trust (DOC)
- Regulatory Agreement (DOC)
- Senior Subordination Agreement (DOC)
- Junior Subordination Agreement (DOC)
Documents Applicable to all NOFAs
- Architect's Completion Certificate (New Construction) (DOC)
- Architect's Completion Certificate (Rehabilitation) (DOC)
- Article XXXIV Guidelines (PDF)
- Bond Financing Term Sheet (DOC)
- Certificate of Completion (DOC)
- Closing Checklist (XLS)
- Cost Cert and Financial Reporting Requirements (DOC)
- Cost Cert Sample Form (XLS)
- Designated Payee Authorization Letter (DOC)
- Insurance Guidelines Checklist (DOC)
- Interest Rate Resets or Bond Remarketing Requirements (Management Memo 07-01) (DOC)
- Lease Rider Estoppel (DOC)
- Loan Closing Requirements (Management Memo 05-2) (DOC)
- Physical Needs Assessment - Fannie Mae Form 4327 (DOC)
- Physical Needs Assessment - Fannie Mae Guidelines (PDF)
- Physical Needs Assessment and Replacement Reserve Study Guidelines (PDF)
- Prevailing Wage Compliance (Management Memo 02-1) (DOC)
- Prevailing Wage Compliance Cerificate (DOC)
- Project Construction Sign Requirements (DOC)
- Project Funding Sources (Construction) (XLS)
- Project Funding Sources (Permanent) (XLS)
- Relocation Plan Implementation Certificate (DOC)
- Request For Funds Form (DOC)
- Utility Allowance Determination (DOC)
- Sponsor Operating Guarantee (DOC) or (PDF)
Related Programs and Publications
- SHMHP NOFA 2014 (PDF)
- SHMHP NOFA 2014 Amendment #1 (PDF)
- SHMHP NOFA 2014 Amendment #2 (PDF)
- SHMHP Power Point (PPT)
- MHP NOFA 2015 (PDF)
- MHP NOFA 2015 Amendment #1 (PDF)
- MHP NOFA PowerPoint (PPT)
- MHP Application Attachment (Rev. 6-16-15) (XLS)
- Universal Application (XLS)
- SHMHP Application Attachment - Rev. 10-24-14 (XLS)
- Development Cost Benchmarks (XLS)