Resource Details


Multifamily Housing Loan Guarantees

The program works with qualified private-sector lenders to provide financing to qualified borrowers to increase the supply of affordable rental housing for low- and moderate-income individuals and families in eligible rural areas and towns.

Rent for individual units is capped at 30% of 115% area median income. Average rent for an entire project (including tenant paid utilities) cannot exceed 30% of 100% of area medium income, adjusted for family size.

Applications are accepted on an ongoing basis!


Eligible lenders are automatically eligible if approved and active in one of the following programs: Fannie Mae, Freddie Mac, Ginnie Mae; HUD; Federal Home Loan Bank members; State or local housing finance agencies.

Eligible borrowers include most state and local governmental entities, nonprofit organizations, for-profit organizations, including LLC's, and Federally-recognized Tribes.

Eligible projects include construction, improvement, and purchase of multi-family rental housing complexes of at least five units in rural areas and Federally-recognized Tribal lands. Complexes may contain units that are detached, semi-detached, row houses or multi-family structures. Housing must be for low to moderate income families and individuals. Funds may also be used for buying and improving land and providing necessary infrastructure.

Top Benefits

  • Lenders are automatically eligible if approved and active in certain programs
  • Constructed/improved/purchased complexes may contain units that are detached, semi-detached, row houses, or multi-family structures
  • Funds may be used to buy/improve land and provide necessary infrastructure

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