Mixed Income Program
California Housing Finance Agency
California
The CalHFA Mixed-Income Program (MIP) provides long-term subordinate financing for the new construction of affordable multifamily developments throughout California that provide housing with units restricted at all income levels between 30% and 120% of the Area Median Income of the county in which the development will be located. The program was created with an annual appropriation of funds to CalHFA under 2017's Senate Bill 2 (SB2), the Building Homes and Jobs Act. CalHFA receives 15% of the Building Homes and Jobs Act Fund for MIP. CalHFA expects to have a total of $50 million available for MIP subordinate financing in 2023.
Contact
Kate Ferguson
Multifamily Programs Division, California Housing Finance Agency
[email protected]
916-326-8802
Other Eligibility Requirements
No other eligibility requirements
Funding Source
Dedicated funding stream - Other
How Provided?
Development loans