With funds gathered as part of SB 2, CalHFA made $40 million available for this new program.
The Mixed-Income Program provides competitive, long-term gap financing for the construction of new rental housing developments that are affordable for a mix of incomes between 30 and 120 percent of the Area Median Income. It can be used in conjunction with CalHFA’s Permanent Loan program or be paired with a loan offered by one of the Mixed-Income Program’s Preferred Lenders.
The April 30 application deadline is to ensure projects can meet the CDLAC application deadline in October 2019. For more information, including term sheet and application form, can be found on the CalHFA website
For questions, please contact Jeree Glasser-Hedrick
at (916) 326–8093. For more information, visit www.calhfa.ca.gov