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Affordable Rental Housing Development Loans
 Housing Development / Loans
The Affordable Rental Housing Development Section manages a variety of low-interest affordable rental housing loan programs. Our variety of programs create opportunities for affordable housing developers with all phases of their financing needs including permanent loan programs financed with tax-exempt bonds. We offer affordable housing developers a combination of one-stop shopping options, which encourages financing versatility and efficiency. Developers may apply for any one of the funding sources or a combination of available funding programs to make developments financially viable. OHCS housing development programs include: 
Pass-Through Revenue Bond Financing Program - Conduit Conduit / Pass-Through Revenue Bond Financing Program
The Program provides tax-exempt bond funds to finance the construction, rehabilitation and acquisition of multi-unit affordable housing for lower-income Oregonians while providing sufficient safeguards to protect the financial interest of the bond issuer. The program provides additional flexibility in the loan structure and providing an efficient process for underwriting and loan approval. 
Elderly and Disabled Loan Program Elderly & Disabled Loan 
(Temporarily suspended, under construction)

The Elderly and Disabled (E & D) Loan provides below-market interest rate permanent mortgage loans by issuing pooled tax-exempt bond financing for affordable multi-unit rental housing projects. Borrowers may apply for this loan for construction of new affordable housing or for acquisition and/or rehabilitation of existing properties. 
Vertical Housing Program Local Innovation and Fast Track​ (LIFT) Housing
The LIFT program's objective is to add to the supply of affordable housing, in particular, for historically underserved communities. In 2017, the Oregon Legislature committed $80 million of general obligation Article XI-Q bonds to fund the LIFT program in 2018 and 2019.

​Land Acquisition Revolving Loan Program (LAP)​
The purpose of the Affordable Housing Land Acquisition Revolving Loan Program is to assist eligible organizations in Oregon to purchase land suited for affordable housing development. Successful loan recipients will demonstrate sound experience and strong development capacity.  LAP is a revolving loan program intended to assist with site acquisition for eventual use as affordable housing; LAP is not a short-term acquisition bridge financing program.

Loan Guarantee Program and General (Lease) Guarantee Program Loan Guarantee Program and General (Lease) Guarantee 
This program assists lenders with guarantees in the financing of new housing construction or for the acquisition and/or rehabilitation of existing housing for low- and very low-income families. Guarantees may be up to 25 percent of the original principal amount of a loan.
Oregon Rural Rehabiliation Loan Program - ORR Oregon Rural Rehabilitation Loan (ORR)
The loan provides financial assistance to borrowers for the construction, acquisition and/or rehabilitation of housing for farm workers and their families; expanding the supply of affordable, decent and safe housing for farm workers and their families.
Risk Sharing Loan Program Risk Sharing Loan (Temporarily suspended, under construction)
The loan provides below-market interest rate permanent mortgage loans by issuing pooled tax-exempt bond financing for affordable rental housing projects. OHCS and HUD share the loan risk and through HUD's FHA mortgage insurance program the bond funds receive a AAA credit enhancement.
Related Resources:
Transfer of Ownership for Funded Projects
Approved Bond Counsel
Approved Market Analysts​
​Grant and Tax Credits 

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