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Section 8 Proactive Preservation Program

The Section 8 Proactive Preservation Loan Program was designed to accomplish three main objectives:

  • Preserve the affordability of Section 8 HAP developments in the MassHousing portfolio
  • Retain these properties as assets in the Agency's mortgage portfolio
  • Maintain the Section 8 Contract Administration of these developments

Who it's for

MassHousing-financed developments supported by project-based Section 8 HAP contracts.

Program Details

  • Loans are self-amortizing up to 40 years
  • Interest rates are set by choosing from several taxable, funding sources
  • Loans are locked from prepayment for the longer of 15 years after closing or 10 years from maturity of the first mortgage
  • Owners may extract equity after funding Section 8 recap and escrow obligations

For more information, download the Section 8 Proactive Preservation Loan Program Term Sheet or contact David Keene at 617.854.1124.

 Section 8 Proactive Preservation Documents
Document  Section 8 Proactive Preservation Program Term Sheet