Refinancing Strategies to Reduce Monthly Payments in 2026

The Maryland Department of Housing and Neighborhood Development provides multifamily finance programs for the construction and rehabilitation of affordable rental real estate systems for low to moderate income households, senior people and people with specials needs. Our multifamily bond programs concerns tax-exempt and taxable earnings home loan bonds to finance the acquisition, preservation and production of budget-friendly multifamily rental housing units in top priority funding areas.

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ProgramDescription The function of the Multi-Family Bond Program is to increase the construction and rehab of multi-family rental real estate for families with minimal incomes. Tax-exempt and taxable bonds and notes provide below-market and market rate building and long-term financing. Taxable bonds supply market rate building and permanent financing to utilize federal Low-Income Real estate Tax Credits, and to fund projects and activities which are disqualified for tax-exempt bonds.

Awards are based on the requirements laid out in the State's Allocation Strategy. The Department's Rental Housing Funds are made up of a number of programs all of which goal to rehabilitate or create rental real estate.

The function of Rental Real estate Functions is to develop jobs and strengthen the Maryland economy by offering gap funding for the production and conservation of inexpensive rental real estate funded through the Maryland Department of Housing and Neighborhood Development's Multifamily Bond Program and Low Income Real Estate Tax Credit Program. Projects funded through the Partnership Rental Real estate Program normally include a collaboration in between State and local governments. The purpose of the Group Home Program is to assist people, certified restricted partnerships, and nonprofit companies to construct or get or get and customize existing housing to serve as a group home or helped living unit for qualified persons and families with unique housing requirements or to refinance home loans on existing group homes.

Many state real estate financing firms manage their own grant programs, often in partnership with regional governments or nonprofits. State Real Estate Finance Company Grants: Nearly every state uses a main grant, such as Minnesota's Start Up program or Kentucky Housing Corporation's Homebuyer Tax Credit. Down Payment Support(DPA) Programs: Alternatives like Colorado's CHFA or CalHFA in California offer grants or forgivable loans.