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Bond Financing

This program provides multifamily housing developers with permanent and construction loans through the sale of tax-exempt or taxable revenue bonds.

Eligibility Requirements

Applicants must apply with a form of credit enhancement (FNMA, GNMA, or FHA). Housing must be set aside for low income families, for persons with disabilities or the elderly. A needs assessment and local government certifications must be obtained. If Housing Tax Credits (HTC) are to be utilized, the development must be in compliance with the current pdf HTC Qualified Allocation Plan (546 KB) .

Terms of Mortgage

The loan term can be up to 50 years. Financing up to 100% for nonprofit sponsors/owners or 90% for all limited profit sponsors/owners is available. The Interest rate is based on the current market.

Application Procedure

Developers can apply to SDHDA for the financing of new construction or acquisition/substantial rehabilitation of rental properties by using the pdf Multifamily Bond Financing Application (176 KB) .  If utilizing HTC's, a  pdf Housing Tax Credit Application (2.03 MB)  must also be submitted with the bond financing application.

Call or e-mail Scott Rounds, Housing Development Officer, with your bond financing questions.
Phone: (605) 773-4532

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