In addition to our tax credit programs, WHEDA offers a
variety of financing options for multifamily developers.
Provides long-term below market interest rate financing for the construction, acquisition and rehabilitation of affordable rental housing.
Stand-Alone Bond Financing provides increased flexibility and expeditious timing for the construction, acquisition and rehabilitation of affordable rental housing.
Preservation Plus Financing provides long-term discounted tax-exempt financing for the acquisition and substantial rehabilitation of affordable housing.
Preservation Revolving Load Funding is available to for-profit, qualified non-profits, housing authorities, or other entities meeting criteria established by WHEDA. Limited to existing multifamily housing with Rural Development Section 515 financing.
Preference will be offered to 4% and 9% Low Income Housing Tax Credit (LIHTC) developments preserving the ability of the property to provide safe and affordable housing for very low-, low-, or moderate-income residents.
Long-term, fixed rate lending specifically for Public Housing Authority
conversions from Public Housing to Section 8 Project Based Rental
Assistance under HUD’s RAD program.
This loan product is designed for RAD conversions not using the Low
Income Housing Tax Credit program as part of the financing structure.
Tax Credit Development Financing offers competitive, fixed-rate financing designed specifically for tax credit developments.
With our Construction Plus Loan you can finance up to 90% of the development cost of rental housing for families, elderly, or people with disabilities.
Provide mortgage loans for multifamily developments that need to improve
accessibility to meet ADA/504 or Fair Housing requirement.
The terms offered are generally not available in the conventional financial
The intent is to encourage owners of existing developments to improve
WHEDA's 7/10 Flex Financing Loan product is designed to offer Borrowers
excellent flexibility and pricing.
Under this product, WHEDA will provide flexible fixed-rate loans to Borrowers
with either 7-year or 10-year rate structures. This product is not expected to
be financed through the sale of mortgage revenue bonds. The loans will be
subject to financial strength of the borrower, development eligibility, and rent
and occupancy restrictions.
Construction financing is also available for approved developments. Such
financing is generally limited to 24 months and can be offered through
WHEDA’s Construction Plus Product.
Term: 35 years Yield Maintenance: 15 years