Multifamily Housing Program (MHP)


Application, General Program, and Standard Agreements Questions

Loan Closing Questions

View Multifamily Finance Super NOFA


Assist the new construction, rehabilitation and preservation of permanent and transitional rental housing for lower income households.

Senate Bill 3 (Chapter 365, Statues 2017) authorized the Veterans and Affordable Housing Bond Act of 2018 (Proposition 1). This measure was adopted by voters on November 6, 2018. It authorizes the issuance of bonds in the amount of $1.5 billion for the Multifamily Housing Program (MHP).

Statutory Funding Set-Asides

18.3 percent set-aside for Senior Projects.

Geographic Distributions

To the extent possible, no less than approximately:

  • 45 percent for projects in Southern California.
  • 30 percent for projects in Northern California.
  • 20 percent for projects in Rural areas.

Assistance Type/Terms

Deferred payment loans:

  • Loans have a 55-year term
  • 3 percent simple interest on unpaid principal balance, except under certain conditions
  • For the first 30 years of the loan term, payments in the amount of 0.42 percent are due annually
    • The annual payment for the next 25 years will be set by HCD in year 30, at the minimum necessary to cover HCD monitoring costs
    • With the balance of unpaid principal and interest due and payable upon completion of loan term

*MHP funds will be provided for post-construction permanent financing only.

Eligible Project

Rental Housing Development:

  • New construction
  • Rehabilitation
  • Conversion of nonresidential structures to rental housing

Project Types:

  • Large Family
  • Special Needs
  • Senior
  • Supportive Housing
  • At High Risk

*Projects are not eligible if construction has commenced as of the application date.

Eligible Sponsor

Sponsors or their principals must have successfully developed at least one affordable housing project:

  • Individual
  • Joint Venture
  • Partnership
  • Limited Partnership
  • Trust
  • Corporation
  • Limited Liability Company
  • Local Public Entity
  • Duly constituted governing body of an Indian reservation or Rancheria, or
  • Other legal entity
  • Organized on a for-profit, including limited profit, or nonprofit basis

*A Sponsor is an Applicant.

Guidelines and Regulations

AB 434 MHP draft guidelines, the Statement of Reasons, and other updates on the implementation of AB 434 can now be found here: AB 434 webpage

Get Funding

Applications are invited through the issuance of Notices of Funding Availability (NOFAs).

Current NOFA

Workshops / Webinars

Previous NOFAs


Reporting Requirements (Asset Management and Compliance)

Upon completed construction of your project and closing of your HCD permanent loan, oversight of your project and loan is transferred to HCD's Asset Management and Compliance (AMC) section.

Visit Asset Management and Compliance to find:

  • Your reporting requirements
  • Forms
  • Additional resources
  • Who to contact if you have questions

Program Forms

Management Memos

There are currently no MHP Management Memos on the website at this time.

Training and Technical Assistance

There are currently no MHP Training and Technical resources on the website at this time.