DCHFA Takes Multifamily Financing Applications Into Online-Only Process
July 21, 2017
The District of Columbia Housing Finance Agency (DCHFA) has taken its multifamily financing process into an online-exclusive set-up through its new Multi-Family Lending Application.
DCHFA said that it created the Multi-Family Lending Application in an effort to streamline the borrowing process while limiting the problems in paper-based submissions. The agency, which hopes to expedite the analysis for funding development projects through this new process, will use the application to accommodate requests for both tax-exempt bonds and McKinney Act Loans.
“We developed this application to make it easier for developers to do business with the agency to increase the production of affordable housing in the District of Columbia,” said Todd A. Lee, executive director of DCHFA, “This is the first in a series of innovations in affordable housing finance that the agency will deliver over the next 12 months. The goal of these innovations is to support the creation and preservation of even more housing in the District.”
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