Affordable Housing Opportunity Fund

Applications are being accepted for Affordable Housing Opportunity Fund Financing

Montgomery County has established the Affordable Housing Opportunity Fund (AHOF) to provide short-term financing to developers to acquire properties at risk of loss of affordability. The fund is now accepting applications for short-term loans to acquire and preserve affordable housing. 

The AHOF provides necessary capital for developers to bid competitively to maintain affordability and provide current renters opportunity to remain in their community at affordable rents. The AHOF has a dedicated pool of $14 million of revolving County funds, matched at least 3:1 with private lending for short-term loans.

The AHOF is managed by the National Housing Trust for Community Development Fund. NHTCDF will coordinate applications from developers and arrange private capital to combine with Montgomery County funds to respond rapidly to opportunities.   

The AHOF provides advantageous terms, standardized processing and pricing to support competing with market rate developers on cost of capital and timely execution. The three-year short-term financing from the AHOF is designed to enable developers to acquire properties quickly, providing sufficient time for the developer to position the property for longer-term affordability. Applications will include plans for refinancing that will ensure long-term affordability and repay the AHOF funding.   

Submitting Application to the National Housing Trust Community Development Fund:

  • NHTCDF is now accepting applications for AHOF financing from affordable housing developers seeking to acquire properties to preserve affordability and protect tenants from displacement.
  • Developers can find the Term Sheet, FAQ and information about the application process at the NHTCDF webpage.
  • Developers interested in additional information should contact NHTCDF by calling 202-333-8921, ext. 153 or by email: [email protected] with subject line “AHOF Loan Inquiry.”
Note: To learn about the impact of the Affordable Housing Opportunity Fund, read about the first AHOF loan, which went to the Leeland Tenants Association.