Deferred Loans

The following deferred funds are available through the Consolidated RFP and may be available on a limited basis throughout the year. Deferred funds are generally structured as repayable loans at 0% for a term of 30 years. 
  • Economic Development and Housing Challenge (EDHC) Program funds the development of affordable permanent rental housing that supports economic development and redevelopment activities, job creation, or job preservation.
  • HOME Investment Partnerships (HOME) Program provides financing for the rehabilitation or acquisition and rehabilitation of federally assisted multifamily rental housing. Minnesota Housing gives priority in its Consolidated RFP to developments faced with risk of opt-out from federal subsidy programs (e.g. Section 8).
  • National Housing Trust Fund (NHTF) Program for developments that qualify under the preservation, supportive, and workforce housing Strategic Priority Policy Thresholds.
  • FFCC works in tandem with LMIR loans. FFCC loans are traditionally structured as deferred loans at low or no interest and are used as a mechanism to reduce the overall interest rate to the development.
  • Preservation Affordable Rental Investment Fund (PARIF) preserves the supply of federally assisted and supportive housing for low-income individuals and families. Federally assisted developments include those with Section 8 contracts, Rural Development rental assistance or financing, and on tribal land, NAHASDA funding.

Other Deferred Loan Programs

The deferred loan programs below have RFPs outside the Consolidated RFP and follow their own application process and timeline.

Publicly Owned Housing Program

POHP is a competitive funding program that uses the proceeds of General Obligation Bonds (GO) to provide financing in the form of a 20-year, deferred, forgivable loan to public housing authorities and agencies (PHAs). PHAs use these loans to rehabilitate and preserve public housing. Applications for the 2017 POHP RFP were accepted in December 2017 and awards are expected to be made in April 2018. View more information.

Rental Rehab Deferred Loan Program

The purpose of the Rental Rehab Deferred Loan Program (RRDL) Program is to provide resources to rehabilitate existing rental housing in Greater Minnesota so that affordability is preserved and low and moderate income households have access to decent housing that is convenient to jobs, transportation, and essential services. View more information.