IHDA Offering New Loan Products

The Illinois Housing Development Authority (IHDA) recently announced two new loan options.  Credit Advantage provides construction and permanent mortgage loan financing for 9% Low Income Housing Tax Credit projects. The maximum loan amount is $10 million. Affordable Advantage provides permanent first mortgage financing for stabilized new construction, refinance, or acquisition/minimal rehabilitation of up to $10 million. Details about both financing options are at www.ihda.org/developer/mfadvantage.htm.