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 Home : Partners Homepage : Programs : Housing Development Programs
Click on one of the program names below for general information on the program, or to access guides, forms or other information.| |  | | The federal Low Income Housing Tax Credit (LIHTC) provides subsidy in the form of a federal tax credit to developers of affordable rental housing. Developers using funding must reserve a portion of the rental units for lower income renters. MaineHousing allocates the LIHTC to developers who sell (syndicate) the tax credit to corporate investors. The money this raises is used as equity in the rental housing project. | |
| | | | The Rental Loan Program (RLP) provides long-term mortgage financing at attractive interest rates for development of affordable rental housing. The RLP may be used for acquisition, acquisition and rehab, or new construction of apartment buildings of five or more units; developers must reserve a portion of the units for lower income renters. | |
| |  | | The Supportive Housing Programs (SHP) provide reduced interest rate debt financing and subsidy funds to eligible nonprofit developers to create housing for low- and very low- income persons with special needs. | |
| |  | | The Affordable Subdivision Program provides interest free, forgivable loans to developers to help fund affordable homes in new subdivisions. MaineHousing provides up to $15,000 per affordable home, with a maximum of $300,000 per subdivision. Due to the popularity of this program, program dollars have all been committed and we are not accepting additional applications at this time. | |
| | | | This program provides loans up to $300,000 to assist nonprofit developers of affordable housing with site acquisition. | |
| | | | The Pre-Development Loan (PDL) Program provides interest-free funds of up to $60,000 for 24 months to help nonprofit developers of affordable housing start their projects. There is no payment until the end of the loan term or until the project’s construction financing is secured. | |
| | | | This program offers a flexible financing tool that communities can use to assist affordable housing projects and support related infrastructure and facilities, including local schools. | |
| | | | The Loan Modification Program offers owners of MaineHousing-financed multi-family properties the opportunity to restructure MaineHousing debt by modifying interest rates, extending loan terms, or both. Loans from MaineHousing’s Rental Loan Program, loans subject to HAP contracts, and loans subject to a FAF Refunding Agreement may be eligible for modification. | |
| | | | The Subsequent Loan Program provides additional financing to owners of existing MaineHousing-financed properties for such things as unanticipated operating shortfalls, capital improvements, property rehab, energy efficiency improvements, creation of new units, and equity takeout. In return for the subsequent loan, owners usually must extend affordability of the units. | |
| | | | This program provides low interest loans for multifamily housing improvements that increase energy efficiency and conservation of resources, thereby preserving the quality of housing for Maine residents and reducing property operating expenses. Property owners who make improvements identified in an energy audit may reduce energy consumption by 15% to 20% annually. | |
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