Middle Income (MI) Loan Program
Rhode Island Housing
Rhode Island
The purpose of the Middle Income (MI) Loan Program is to finance innovative proposals that seek to develop housing affordable to households with incomes between 80% - 120% of area median income (“AMI”). The program addresses the affordable housing needs of households who are increasingly caught in the gap between rising housing costs and ineligibility for other traditional state and federally financed affordable housing.
Priority Populations
Household income at or below 100% AMI
Total Funding
$20,000,000
Funding Source
Special one-time federal funding
Funding Year
2022
How Provided?
Development loans