MaineHousing offers several programs to encourage private development of affordable rental housing for families, seniors and persons will special needs. Low income housing tax credits, development loans, direct development subsidies, affordable housing tax increment financing, and options to restructure debt are available. Developers are required to ensure that housing developed with MaineHousing financing remains affordable.

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Programs

  • Low Income Housing Tax Credit Program
    The Low Income Housing Tax Credits are a federal resource that MaineHousing allocates in Maine. The credits are allocated to developers, who sell (syndicate) them to corporate investors. Money raised from the sale is used as equity in the developer’s rental housing project.

  • Rental Loan Program
    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.

  • Supportive Housing Programs
    ** The Supportive Housing RFP program(s) will be unavailable in 2016 **
    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.

  • Supportive Housing Repair Program

    After years of service, some properties face capital needs that require immediate attention but lack adequate reserves to address the necessary repairs.  In response to the situation, MaineHousing has create the Supportive Housing Repair Program (SHPR) that has allocated $500,000 in deferred due on sale funding targeted to assist owners in completing the required repairs that will ensure the properties are able to continue to provide decent, safe, sanitary housing to Maine’s most vulnerable citizens.  

  • Revolving Loan for Acquisition Program
    The Revolving Loan for Acquisition Program provides loans up to $300,000 to assist developers in the acquisition of land or land and buildings for the development of affordable housing projects.  Eligible projects include those that qualify and have applied (or will apply) to the tax credit financing programs, and projects that will create supportive housing units for people with special needs. The loan term is 24 months, and repayment is deferred until the project’s permanent loan closing or the end of the term.

  • Affordable Housing Tax Increment Financing
    The Affordable Housing Tax Increment Financing (AHTIF) Program enables communities to dedicate the incremental tax revenues from new affordable housing development to help make the housing affordable or to pay for related costs.

  • Loan Modification Program
    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. Loan modifications generally lower debt service payments in return for extended project affordability.

  • Subsequent Loan Program
    The Subsequent Loan Program provides additional financing to owners of existing MaineHousing financed properties for such things as unanticipated operating shortfalls, capital improvements and creation of new units.

  • Contract Administration Loan Program

    The MaineHousing Contract Administration Loan Program ensures the preservation of affordability by permitting eligible owners of Section 8 properties with a project-based Housing Assistance Payments contract.

  • Multifamily Home Energy Loan Program
    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.

  • Land Acquisition Program

    The Land Acquisition Program provides loans to assist qualified non-profit housing corporations and municipalities in the acquisition or preservation of land for affordable housing projects.  Funds from the program may be use for land acquisition costs, minor capital improvements and predevelopment costs.  

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(800) 452-4668  •  (207) 626-4600
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