Michigan State Housing Development Authority
Michigan

MSHDA offers direct lending to eligible borrowers in the form of loans from both tax-exempt and taxable bonds for the development of affordable rental housing. MSHDA direct lending programs are available for both new construction1 and acquisition and rehabilitation of affordable or conventionally-financed rental housing, mixed use buildings or the adaptive re-use of other structures.

Funding Source
Dedicated funding stream - Other
Program Status
Active
Website
https://www.michigan.gov/mshda/developers/multifamily-direct-lending-pgrms
How Provided?
Development loans; Development bonds
Program Type
Capital resources
Income Eligibility Threshold
Other income eligibility criteria
Duration
Affordability period is 50 years
Info Source
NLIHC internet research
Last Updated
8/18/23 16:50
Income Eligibility Threshold Detail

20% of units at or below 50% AMI OR 40% of units at or below 60% AMI