FHA Pilot Program to Launch in Chicago - 02/27/12 11:17 AM
The Federal Housing Administration (FHA) has announced a new pilot program that aims to improve financing for projects included in the Low Income Housing Tax Credit (LIHTC) Program. Set to launch first in Chicago, Boston, Detroit and Los Angeles, the program initiative hopes to accelerate the approval process for purchasing or refinancing a multi-family LIHTC rental property. By choosing to launch its program in real estate markets like Chicago, the FHA’s Office of Multi-Family Housing Programs trusts that it will significantly reduce the time it takes to review and approve financing for LIHTC-assisted transactions. Currently, these transactions take about one year; … (0 comments)

 

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