• Agency: NYC Housing Development Corporation (NYC HDC)
• Status: Currently Available

The Affordable Housing Permanent Loan Program (AHPLP) provided financing from a pool of Housing Development Corporation (HDC) funds intended to make small, permanent, below-market rate first mortgage loans on projects primarily developed under programs sponsored by New York City Department of Housing Preservation and Development (HPD). Generally, the maximum amount of each mortgage loan was $2,000,000 and did not exceed 60 percent of the combined mortgage loans from HPD and other lenders. For each AHPLP construction mortgage loan, HDC entered into a buy-sell agreement with the mortgagor’s construction lender.