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Multifamily Financing

Creative Financing for Affordable Rental Housing

At VHDA, creative financing solutions not only include loans, but a fast and efficient loan process. Customers benefit from our ability to structure debt to suit the needs of these often-complicated transactions. We also maintain relationships with the federal government’s Department of Housing and Urban Development (HUD), Department of Agriculture, Rural Housing Services and the Virginia Department of Housing and Community Development (DHCD).

We have development officers, architects, attorneys and construction inspectors on staff. Led by our development officers, resources are used to ensure quality control throughout the construction process. Property owners benefit from oversight provided by experienced asset managers and compliance staff, who monitor the physical and financial health of these VHDA-financed properties.

Borrowers are not required to be Virginia-based.

"" Multifamily Financing Overview
An overview of the range of VHDA financing available for multifamily developers, including taxable and tax-exempt bonds.

"" Types of Rental Housing Loans
Learn more about taxable and tax-exempt bonds, mixed-use, mixed-use with mixed-income, SPARC financing and Low-Income Housing Tax Credits.

"" Loan Processing Summary
Learn about the loan application and approval process.

"" Multifamily SPARC Program Guidelines
How to apply for below-market development financing.

"" Multifamily REACH Virginia Programs
Loans designed for the various demanding needs of today’s housing markets — from high-growth communities to older cities grappling with revitalization to small towns.

"" Low-Income Housing Tax Credit Program
The LIHTC program is authorized under Section 42 of the Internal Revenue Code of 1986, to encourage the development of affordable rental housing by providing owners with a federal income tax credit. The program also serves as an incentive for private investors to participate with developers in the construction and rehabilitation of low-income housing.