Housing Finance Agency

Agency Web Site: https://hcr.ny.gov/state-new-york-mortgage-agency-sonyma-homebuyers/

Mission

The New York State Housing Finance Agency (HFA) is a public benefit corporation created in 1960 to finance low- and moderate-income rental housing. The Agency issues tax-exempt and taxable bonds to provide mortgage loans for the construction and rehabilitation of both low income and mixed income multi-family rental housing.

HFA also plays a role in administering several housing programs supported by State and Federal appropriations. In 1990, the Agency’s mission was expanded to include the issuance of bonds to reimburse the State for appropriated expenditures under the State’s housing programs.

Budget Highlights

The Agency receives no direct operating support from the State. Its operating budget is funded with fees and revenues the Agency generates through its financing activities.