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MassHousing Completes $2.5 Million Refinancing of Downtown Lowell Affordable Housing Community
https://www.ncsha.org/wp-content/uploads/2018/04/MassHousing.png The 34-unit Majestic Apartments will remain affordable to lower-income households for the long term BOSTON – April 1, 2021 – MassHousing has provided $2.5 million in affordable housing financing to Affordable Housing and Services Collaborative (AHSC), to refinance and preserve affordability at the 34-unit Majestic Apartments for senior citizens and residents with disabilities in downtown Lowell….
Golfers Raise $75,000 for Rocky Mountain MicroFinance Institute
https://www.ncsha.org/wp-content/uploads/2018/04/ColoradoHousing-and-Finance-Authority-5.png (DENVER) – Colorado Housing and Finance Authority’s (CHFA) annual David W. Herlinger Golf Tournament raised $75,000 for Rocky Mountain MicroFinance Institute (RMMFI) on Wednesday, August 31, 2022. RMMFI is a Denver-based nonprofit and Community Development Financial Institution that creates the space for communities and people of all backgrounds to realize their unique potential through…
MSHDA Board Approves Funding for 546 Housing Units at June Meeting
https://www.ncsha.org/wp-content/uploads/2018/04/Michigan-State-Housing-Development-Authority.png Lansing, Mich. – Eight affordable housing developments were approved for funding across the state, including in Detroit, Grand Rapids, Traverse City and Ypsilanti, at the Michigan State Housing Development Authority (MSHDA) Board’s June meeting. “With funding for eight developments approved this month, we are moving the needle toward our 115,000-housing unit goal,” said Amy…
Student Spotlight: Onajé Brooks, Alexander City | Alabama Housing Finance Authority
April 01, 2022
Meet Onajé Brooks of Cornerstone Apartments in Alexander City:
Onajé Brooks was selected to receive a 2021 resident scholarship awards from the Alabama Affordable Housing Association (AAHA). Brooks is the brother of Paris Morgan, a 2019 AAHA scholarship recipient and previous Student Spotlight honoree.
Education:
Brooks is a 2021 graduate of Benjamin Russell High School in Alexander City. He is currently attending Huntington College in Montgomery and plays on the Hawks football team.
Career Goals:
Brooks is planning to pursue a career in sports medicine.
Impact of Scholarship:
“When I receive this scholarship, it will help cut some of my costs. While I am obtaining my degree, I would like to be financially set in terms of school.
My mother’s family obligation as a single parent is to take care of both her children. Once I graduate from high school, my mother will have two children entering into college. Therefore, she will try her best to continue to provide for the both of us. Her list of obligations are rent, power, food, clothing, and etc. She will still have to do her best to help and provide for me, even though I will be away at college.
No matter how big or small the amount of a scholarship is, it will be helping me toward my goal. The AAHA scholarship is a great opportunity for me. It also shows that if you work very hard, then you will be rewarded for your hard work.”
In 2000, the Alabama Affordable Housing Association (AAHA) created an education scholarship program for residents of member-owned apartment properties in Alabama. The scholarship funds are donated by the owners, contractors, architects, accountants, property management companies, investors, lenders, developers, and various vendors that make up AAHA’s membership as well as other non-member individuals. Since its inception, the AAHA resident scholarship fund has awarded more than $750,000 in college and vocational scholarships.
For more information about the resident scholarship program, please contact Arrice Faught, AAHA’s executive director, at [email protected] or 205.758.1158.
Increased Income Limits & Sales Price Limits for MCC Program | Alabama Housing Finance Authority
April 26, 2021
With increased income limits and sales prices limits now in effect, more Alabamians than ever will qualify for AHFA’s Mortgage Credit Certificate program.
Effective April 15, the maximum sales price in target areas will be $381,308 and $311,980 in non-target areas.
The new income limits, also effective April 15, were released by the U.S. Department of Housing and Urban Development and are based upon the state’s median income. Homebuyers can earn up to $100,050 in urban areas and $93,380 in rural areas, depending on family size and location.
The new higher sales price and income limits benefit participants in the MCC program, which provides a tax credit to reduce the amount of federal taxes owed by a percentage of the annual mortgage interest paid each year. The remaining annual interest may be claimed as a mortgage interest deduction on the homebuyer’s federal tax return.
Qualified homebuyers will receive a larger federal tax break or tax refund each year or benefit from immediate savings by updating the withholdings on their W-4 form.
MCCs may be paired with AHFA’s Step Up program or any conventional fixed-rate, FHA, VA, Rural Development, and privately insured mortgages.
Iowa Finance Authority Awards more than $7 million to Local Housing Trust Funds to Advance Housing Priorities
https://www.ncsha.org/wp-content/uploads/2018/04/Iowa-Finance-Authority-4.png State Housing Trust Fund Grants to Assist 2,100 Families Access Housing (DES MOINES) – The Iowa Finance Authority Board of Directors today announced the award of a total of more than $7 million in grants to 27 Local Housing Trust Funds to support local housing initiatives. The grant awards are made available through the…