The California Housing Finance Agency (CalHFA) has added its new Preservation Loan Program to its suite of offerings. The program provides acquisition, rehabilitation and permanent loans to preserve and extend affordability on multifamily rental properties.
‘By broadening the program to include new preservation projects, we will reach more properties statewide and maintain affordable rental housing for more California families,’ explains Claudia Cappio, CalHFA's executive director.
The Preservation Loan Program will be offered through CalHFA's multifamily division, and all loans will be credit-enhanced through CalHFA's HUD/FHA risk-sharing program. For-profit, nonprofit and public agency sponsors are all eligible.
For more information, visit calhfa.ca.gov.