What is the New York State Housing Finance Agency?

Posted by Admin | April 16th, 2014

The New York State Housing Finance Agency, or HFA, was created to help build and preserve affordable multifamily housing in New York. The agency accomplishes this goal through the sale of bonds. The proceeds are then used to help provide mortgages to affordable housing developers. In turn, this ensures that rents are kept at reasonable levels, and local families can find housing that suits their needs and budgets. The agency offers many financing options to developers with the aim of keeping costs as low as possible. Many people are unaware of the existence of the HFA, but its work benefits a huge number of them.