Attention Developers:
The New Jersey Housing and Mortgage Finance Agency (HMFA) advances the quality of life for residents and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs.
HMFA recently announced the Affordable Housing Gap Subsidy Program (AHGS), approved at the January 13, 2022 Board meeting. In light of increased construction costs and project funding gaps resulting from the pandemic and supply chain disruptions, the Murphy Administration and the New Jersey Legislature have made up to $40,000,000 AHGS funding available, to be provided in the form of loans to eligible affordable housing projects.
The AHGS financing application submission must contain the documentation as listed in the UNIAP to be deemed a complete financing application. Please refer to pages 14 and 15 of the UNIAP for the required documentation to be submitted. Incomplete financing application submissions will not be processed.
Please use the below link to view the AHGS Checklist and Guidelines.
