About NAHPA's NEW LITC INITIATIVE!!
its mission through several related activities, principally serving
as an intermediary assisting local non-profits purchase and rehabilitate
Section 515 properties. NAHPA works with USDA officials, private
lenders, and representatives of the nation’s secondary mortgage
market to structure financing options permitting Section 515 housing
purchasers to subordinate existing USDA loans to new permanent first
Although primarily interested in serving as an intermediary to guide
other non-profits, under certain circumstances NAHPA is prepared
to step forward as the buyer of record of a threatened Section 515
property. NAHPA also has pursued new construction joint ventures
with local housing developers, securing financing under the Federal
Home Loan Bank’s affordable housing program or through state
housing finance agency low-income tax credits.
©2008 National Affordable Housing Preservation