Housing Development loan program 
The Housing Development Loan Program provides financial support for the development of housing for low- to moderate-income Ohioans. Three different types of loans are available:
| LOAN TYPE | DESCRIPTION |
| Construction Deposit Grant | Financing that "writes down" the cost of construction loan interest |
| Equity Bridge Loan | Interim financing for deferred equity from the sale of housing credits |
| Flex Loan | Flexible loan that may be used to address financing needs unmet by other OHFA products |
See the Housing Development Loan Program Guidelines below for detailed descriptions of each loan including rates, terms, and eligibility.
Who Can Apply
Housing development loans are used in conjunction with our three major housing development programs: Housing Credit Program, Housing Development Gap Financing (HDGF), and Multifamily Bond Program. OHFA requires that developers or other entities provide sufficient collateral to ensure repayment of their housing development loans. If you are unable to meet the collateral requirements, you may wish to pursue funding through the Housing Development Assistance Program.
How the Program Works
All funding requests for housing development loans are subject to approval by the OHFA Board and depend on OHFA's ability to reserve funds for the development. OHFA reserves funds for developments based upon the availability of funds through the Department of Commerce's unclaimed funds or other sources available to the Agency. For complete details about the program, please review the Housing Development Loan Program Guidelines.
2009 Housing Development Loan Program Guidelines (1014 KB Adobe PDF File)
Applying for Housing Development Loans
Prospective borrowers apply for this program in partnership with the Housing Credit Program, Housing Development Gap Financing (HDGF), and Multifamily Bond Program by submitting an Affordable Housing Funding Application (AHFA) to OHFA. Applications must be received at the time of application for the major program that the loan is partnered with. The AHFA is available for download below. You may also request the AHFA (in Excel format) on cd or by email by contacting the Office of Planning, Preservation and Development at 614.466.0400.
2009 Affordable Housing Funding Application (AHFA) (935 KB Excel File) revised 2/13/09
Questions?
Questions concerning the Housing Development Loan Program should be directed to:
Arthur Krauer
Planning and Public Policy Coordinator
Ohio Housing Finance Agency
57 East Main Street
Columbus, Ohio 43215
614.387.1656
akrauer@ohiohome.org
