Certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury Department, the Housing Assistance Council has offered low-cost rural housing development loans for over 40 years.

HAC makes short-term loans at below market interest rates to local nonprofits, for profits and government entities developing affordable housing for low-income, rural residents. HAC’s loans enable borrowers to acquire land, pay architectural and environmental fees and cover other costs that arise before construction loans are available. HAC balances careful underwriting and meaningful collateral with flexibility and an understanding that a rural community’s best potential housing developer may begin without significant housing development experience. HAC loan funds serve various purposes:

• Predevelopment
• Acquisition
• Construction
• Self-Help Housing
• Preservation

Loans from these funds are used for a wide variety of housing development purposes, for all types of affordable and mixed income housing projects, and for both rental and ownership units.