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CalHFA Multifamily Programs

News & Updates:


Multifamily Programs provide permanent financing for the acquisition, rehabilitation, and preservation or new construction of rental housing that includes affordable rents for low and moderate income families and individuals. The following information describes available financing, terms, and our loan processing requirements.

PUBLICATIONS
2008 CalHFA Rents
2008 Median Income Limits

CONTACT INFORMATION
Staff Contacts

NEWS
Program Bulletins and Newsletters

USEFUL LINKS
(CDLAC, TCAC, HCD, HUD, etc.)

INFORMATIONAL
DUE DILIGENCE


LENDING PROGRAMS
Loan to Lender Program - (under revision, please call for status of Program).
Permanent Loans
Acquisition Rehabilitation Financing

Special Needs Financing
Tax-Exempt Bridge Loan
Predevelopment Loans
HUD Section 202 Refinancing Program
Construction Loan Program
Residual Gap Loan Program
Mental Health Services Act Housing Program (MHSA)

PROCESS AND REQUIREMENTS
Insurance Requirements (Construction)
Insurance Requirements (Permanent)
Loan Processing Requirements
Legal Requirements
Reserve Requirements
Physical Needs Assessment
Common Area Accessibility Report
Architectural Recommendations

CONSTRUCTION BOILERPLATE LOAN DOCUMENTS

  1. Fixed Rate Loan Promissory Note
  2. Deed of Trust
  3. Security Agreement
  4. Regulatory Agreement
  5. Subordination Agreement
  6. Assignment of Architectural Agreements, Engineers' Contracts and Plans and Specifications
  7. Assignment of Construction Contract; and
  8. Assignment of Management Agreement
  9. Payment and Performance Guaranty


LOAN APPLICATION PROCESS
Loan Application Instructions
Universal Application
Universal Application Checklist (xls)

Universal Application Checklist Forms
Development Timetable (xls)
Regulated Unit Summary (xls)
Credit Authorization (doc)
TEFRA Form (pdf)

LOAN CLOSING CHECKLISTS
Loan Closing Instructions
Acquisition/Rehab Loan Checklist
Acquisition/Rehab Conversion Checklist


Construction Checklist
Construction to Perm Conversion Checklist

Permanent Loan Closing Checklist (Perm Only)

Loan to Lender Closing Checklist

LOAN CLOSING FORMS
Borrower Signature Election (Construction)
Affirmative Fair Housing/HUD form
W-9 Request for Taxpayer ID Number

The following forms are in Word format and can be filled in electronically.

Contact List
Architect’s/Engineer’s Certificate
Letter of Credit Requirements
Letter of Reliance
Assignment of Warranties
Identity of Interest
Locality Contribution Letter 51335 (a)(2)
Opinion of Counsel
Unrelated Parties Transaction Representation
Deposit Account Control Form
Form 8038 Questionnaire - For Good Cost Bad Certificates please contact Christine Caldwell at ccaldwell@calhfa.ca.gov

Disclaimer:  Each document is intended for informational purposes only.  If your loan application is accepted by CalHFA, the loan documents specific to your transaction will be tailored to meet the specific requirements of your transaction and may vary substantially from the documents posted here.  The template loan documents are subject to change without notice.  CalHFA does not warrant or represent that the covenants and conditions in the template documents will apply to your specific transaction.