SACRAMENTO – December 03, 2015 – (RealEstateRama) — The California Housing Finance Agency (CalHFA) is celebrating four decades of partnering, promoting and preserving safe, affordable housing for Californians. Hundreds of thousands of residents have benefited from its programs and products, and CalHFA is poised to open up opportunities to even more through its commitment to lending with a purpose.
CalHFA has invested more than $19.5 billion to help more than 155,000 families buy their first home with a mortgage they can afford. The Agency has also invested more than $3 billion for the construction and preservation of more than 44,000 affordable rental housing units to assist very low and low income Californians.
For multifamily housing developers, CalHFA provides financing for acquisition, rehabilitation, and preservation of rental housing that will include affordable rent for very low and low income households. In addition to the CalHFA Acquisition/Rehabilitation Loan Program, the recent introduction of CalHFA/HUD Risk Share Refinance Loan Program and the continued growth of the Conduit Issuer program show that there still exists a tremendous need for quality affordable rental housing in California