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The 2026 Multifamily Consolidated Request for Proposals (RFP)/2027 Housing Tax Credit (HTC) Round 1 application deadline is fast approaching! Read on for important updates, tips, submission reminders, and more.
In This eNews
In Case You Missed It
2026 Multifamily Consolidated RFP/2027 HTC Round 1 Application Deadline is Thursday, July 9 at noon
The deadline to submit 2026 Multifamily Consolidated RFP/2027 HTC Round 1 applications is Thursday, July 9 at noon Central time. This deadline also applies to the submission of application fee(s), qualification forms, and supporting financial information.
The Minnesota Housing board anticipates holding its selection meeting in December 2026.
Questions?
Contact mhfa.consolidated.rfp@state.mn.us.
Estimated Resources State Legislative Update
Minnesota Housing provided a brief overview of the estimated deferred loan and HTC resources available for the 2026 Multifamily Consolidated RFP/2027 HTC Round 1 in our April 23 eNews. The estimate included the potential resources that were available at the time but did not include additional appropriations for the Housing Infrastructure Program. The 2026 Minnesota legislative session concluded with a new authorization for $100 million in Housing Infrastructure Bonds. The funding will be made available in the 2026 Consolidated RFP for eligible multifamily, single-family, and manufactured housing uses.
9% HTC Distribution Estimates Update
The Internal Revenue Service (IRS) provided updated state population estimates in April 2026, resulting in revised 2027 9% HTC distribution estimates for the state of Minnesota. The estimates are based on Minnesota’s population and the per capita credit volume, reflect the current amount of 9% HTCs available for the 2027 program year, and are subject to change.
Any adjustments to these figures will result in corresponding changes to the total credits available for allocation. The updated 2027 Distribution of HTCs in Minnesota are now available on the Housing Tax Credits webpage.
Questions?
Contact htc.mhfa@state.mn.us.
Federal Resources
The Home Investment Partnerships (HOME) Program and National Housing Trust Fund (NHTF) Program are key parts of Minnesota Housing’s deferred funding resources. Projects selected to receive HOME Program and/or NHTF Program funds in the 2026 Multifamily Consolidated RFP are subject to several federal cross-cutting requirements, including:
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Davis-Bacon: Required when the HOME Program funding requires 12 or more HOME assisted units, which are the units in a project subject to the HOME rent and income limits for the duration of the HOME period of affordability. Under certain circumstances, a project may also be subject to state prevailing wage and a dual wage decision. Refer to section 1.11 (Prevailing Wage) of the Multifamily Request for Proposals Standards for more details.
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U.S. Department of Housing and Urban Development (HUD) Section 3 Rule:
- The labor hour benchmark for Section 3 workers is set at 25% or more of the total number of labor hours worked by all workers on a project.
- The labor hour benchmark for Section 3 targeted workers is set at 5% or more of the total number of labor hours worked by all workers on a project.
- Developers and contractors must follow HUD’s prioritization of effort in directing employment, training, and contracting opportunities to low- and very low-income individuals and businesses that employ them.
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HUD Environmental Review: Part 58 environmental review is required for HOME Program funding. Projects receiving NHTF Program funds must meet all NHTF environmental provisions. Some NHTF environmental provisions align with the requirements of a Part 58 environmental review, but not all.
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Build America, Buy America (BABA): BABA requirements will apply to any projects awarded HOME Program and/or NHTF Program funds from Fiscal Year 2024 or later. BABA requires that all iron, steel, manufactured products, and construction materials used in residential new construction and rehabilitation projects funded with federal financial assistance must be produced in the U.S.
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Uniform Relocation Act (URA): The URA requires that displaced persons or businesses be provided fair, equitable treatment and protection from disproportionate injury by projects designed to benefit the public.
Questions?
Contact Aaron Keniski at aaron.keniski@state.mn.us or Cindy Diel at cindy.diel@state.mn.us.
Amortizing Loans Rates
Applicants requesting or interested in Minnesota Housing’s Low and Moderate Income Rental (LMIR) first mortgage through the 2026 Multifamily Consolidated RFP/2027 HTC Round 1 are encouraged to use the following rates for initial underwriting purposes.
LMIR Permanent Loans
- 40-year term/amortization – 7.625% (non tax-exempt bond funded)
- 40-year term/amortization – 6.875% (tax-exempt bond funded)
- Plus 0.125% for HUD Risk-Sharing mortgage insurance premium (MIP)
These rates are only for underwriting/sizing purposes for submissions to the 2026 Multifamily Consolidated RFP/2027 HTC Round 1. Underwriting rates will be revisited during the Multifamily Consolidated RFP review and will vary depending upon loan structure (for example, tax-exempt bond funded or not). Rates will continue to float until final Agency approval approximately six months prior to loan closing/commitment.
Bridge Loans Funded with Tax-Exempt Bonds
- 5% interest rate for underwriting purposes
- Maximum term of 24 months Not insured under HUD Risk-Sharing/no MIP
- Actual rate will float and will be based on the price of the bonds + 1.0%
- Bonds will be sold approximately two weeks prior to loan closing
Questions?
Contact Mike Tobias at michael.tobias@state.mn.us with questions regarding LMIRs.
Contact Susan Thompson at susan.thompson@state.mn.us with questions regarding Bridge Loans.
First Mortgage Interest Rate Reminder
In a changing interest rate environment, we want to remind borrowers that interest rates will continue to float until final Agency approval, approximately six months prior to loan closing/commitment, and then will have a set expiration date. Loans funded with tax-exempt bonds will be based on the interest rate on the bonds plus a spread. If the loan does not close by the stated expiration date in the applicable Term Letter or End Loan Commitment, Minnesota Housing may adjust the first mortgage interest rate to the market rate in effect at the time or may charge additional fees at the sole discretion of Minnesota Housing. Refer to the Project Term Letter or Letter of Engagement for more information.
Questions?
Contact your assigned underwriter.
Withdrawing Your Application
No longer wish to be considered for 2026 Multifamily Consolidated RFP/2027 HTC Round 1 funding? Let us know! If you completed and submitted the Intent to Apply but do not plan to submit an application, select the Withdraw Project button located in the upper-right corner of the project page in the Multifamily Customer Portal. Refer to the Withdrawing a Project User Guide for more details. Request to withdraw may also be sent via email to either mhfa.app@state.mn.us or mhfa.consolidated.rfp@state.mn.us.
Last Chance to Request Technical Assistance
Minnesota Housing offers, and strongly encourages, technical assistance to discuss your project with staff. If you would like technical assistance as you prepare application, complete and submit the Technical Assistance Request Form. Technical Assistance for this 2026 Multifamily Consolidated RFP/2027 HTC Round 1 will not be available for new requests after Thursday, July 2.
Technical assistance topics may include, but are not limited to:
- Selection criteria in the Self-Scoring Worksheet
- Project feasibility
- Organizational and financial capacity
Technical assistance provided by Minnesota Housing staff is only advisory and does not guarantee that a development will receive points under a particular criterion or be selected for funding. While every effort is made to ensure the accuracy of the technical assistance, such assistance is subject to, and does not modify or override, the requirements of the Qualified Allocation Plan, Self-Scoring Worksheet, Multifamily Request for Proposal Standards, Multifamily Underwriting Standards, Building Standards documents, and other documents related to applications for funding.
Application Fees and In-Person Delivery
The preferred method to receive 2026 Multifamily Consolidated RFP/2027 HTC Round 1 application fees is via USPS mail. The Multifamily Fee Remittance Form includes our mailing address, contact information, and fee amounts. Minnesota Housing will accept mailed checks postmarked by the application deadline of July 9, 2026.
The Multifamily Division will also have staff available to accept checks delivered in-person to our office at the following dates and times:
- Wednesday, July 8 between 9 a.m. and 4 p.m. Central time
- Thursday, July 9 between 9 a.m. and noon Central time
To arrange an in-person delivery outside of these dates and times, contact htc.mhfa@state.mn.us.
Multifamily Workbook Reminder for Preservation Projects
All applications that include an existing property, this is a reminder to complete the Actual Expense columns (columns J, K, and L) on the Cash Flow tab of the Multifamily Workbook. Current year expenses should be annualized.
Tips for On-Time Application Submission
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Review application information, materials, and trainings. These can be found on our Multifamily Consolidated Request for Proposals/Housing Tax Credit Funding Rounds webpage.
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Review Multifamily Customer Portal resources. Visit our Multifamily Customer Portal Resources webpage to learn more about the Multifamily Customer Portal and view trainings to help guide you through the submission process.
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Update the Project Snapshot and Application fields with the latest information. When applicants create a project in the Multifamily Customer Portal, some high-level details about the project, including proposal type(s), number of units, and estimated construction and development costs, are provided. Update these fields under the Details tab to match the current project characteristics.
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Create Test Scoresheets using the Scoring Wizard. Applicants must submit their Customer Final Version scoresheet in the Scoring Wizard by the application deadline. Applicants may use the Scoring Wizard to create up to four test scoresheets per project to explore different scoring scenarios before finalizing their submission. The Scoring Wizard is the online version of the Self-Scoring Worksheet and is required for all 2026 Multifamily Consolidated RFP/2027 HTC Round 1 applications. When you’re ready, convert your best test version into the Customer Final Version and select Verify and Submit to complete your submission.
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Use the 2026 Multifamily Workbook. 2026 Multifamily Consolidated RFP/2027 HTC Round 1 applicants must use the 2026 Multifamily Workbook. The workbook version date is located on the Instructions tab and is labeled 2026 03 19 Ver 1.0. Download the latest version from the Multifamily Customer Portal.
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Include the Property Number (D#) and Project Number(s) (M#) on applicable forms. On many Minnesota Housing forms, applicants are asked to provide a D# and an M#. Refer to the Multifamily Request for Proposals Standards for guidance on D# and M# numbers.
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Upload files as you go. The Multifamily Customer Portal requires applicants to upload files to their corresponding checklist item. Do not wait until the last minute to upload the documents. The Multifamily Customer Portal and Scoring Wizard will not accept submissions after noon Central time on Thursday, July 9, 2026.
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Use the Show Items Not Uploaded feature. This feature allows applicants to quickly identify which checklist items still need attention before submission.
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Select Submit when you are finished with your application checklist. Applicants must complete and submit their customized checklist in the Multifamily Customer Portal; upload all required documents or mark optional items as Opted Out. Once all items show a valid upload status and no errors remain, select Submit. Applicants will be asked to confirm that all materials are signed and to acknowledge the submission. Once submitted, items will be locked, and an email confirmation will be sent automatically.
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Submit development team qualification forms. All applicants are required to submit the applicable development team qualification forms and supporting documentation. All qualification forms must be submitted to through the Secure Upload Tool. For more information, view our May 26 eNews and visit the Development Team Qualification Forms webpage.
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Submit the application fee. All applications must submit the $800 application fee per the Multifamily Fee Remittance Form.
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Include application signatures. Minnesota Housing will accept electronic signatures on application materials. Refer to the Multifamily Request for Proposals Standards for more information.
- Submit the application early if it is complete!
Questions?
Questions regarding the Multifamily Customer Portal, Scoring Wizard, or Secure Upload Tool should be directed to mhfa.app@state.mn.us.
General questions should be directed to mhfa.consolidated.rfp@state.mn.us.
Dual Applications and Project Numbers (M Numbers)
Applicants can submit dual applications that include multiple financial structures. Detailed information can be found in the Multifamily Request for Proposals Standards. Generally, dual applications include one of two structure combinations:
- 9% HTC Request (primary)/Deferred Request with 4% HTC (secondary)
- Deferred Request with 4% HTC (primary)/Deferred-Only Request (secondary)
The primary structure will use the primary M number. The secondary structure will use the secondary M number. The primary workbook should be uploaded in the Multifamily Customer Portal under the WKBK: Primary Application Workbook checklist item with the primary M number information entered. The secondary workbook should be uploaded in the Multifamily Customer Portal under the WKBK: Secondary Application Workbook checklist item, with the secondary M number information entered.
In limited circumstances outlined in the Multifamily Request for Proposals Standards, projects may be eligible for a third financial structure, such as Housing Infrastructure funds, and are encouraged to submit a third Deferred Only Multifamily Workbook. This should be uploaded in the Multifamily Customer Portal under the WKBK: Tertiary Application Workbook checklist item. The secondary M number should be used for this workbook. Minnesota Housing does not assign three M numbers to projects.
In Case You Missed It
Metropolitan Council Local Housing Incentives Account Applications Due Thursday, July 9
The Metropolitan Council approved $3.5 million in Livable Communities Grant Program funding to be made available in the multifamily deferred pool of financing through the 2026 Multifamily Consolidated RFP. Only projects located in Livable Communities participating cities are eligible for these funds.
Livable Communities grant funding is evaluated based on the Metropolitan Council’s approved scoring criteria, and awards are recommended for the highest-scoring projects with consideration of the full ecosystem of funding and financing available through the Multifamily Consolidated RFP. Livable Communities grants may be awarded without Minnesota Housing funding. However, a complete 2026 Multifamily Consolidated RFP/2027 HTC Round 1 application must be submitted to be considered.
Livable Communities Grant Program funding application materials and the application checklist are available in the Multifamily Customer Portal and are due with 2026 Multifamily Consolidated RFP/2027 HTC Round 1 applications by noon Central time on Thursday, July 9.
More information about the program, including how to apply, matching requirements, eligible uses, and more can be found on the Metropolitan Council’s Livable Communities Development Projects webpage, Minnesota Housing’s Multifamily Consolidated Request for Proposals/Housing Tax Credit Funding Rounds webpage, and in our March 18 eNews.
Questions?
Contact Hannah Gary, Program Coordinator, at hannah.gary@metc.state.mn.us.
Apply for Funding through the Multifamily Customer Portal
The following items are available in the Multifamily Customer Portal:
- 2026 Multifamily Consolidated RFP/2027 HTC Round 1 Application Checklist
- Scoring Wizard
- Application materials for Metropolitan Council’s Livable Communities Grant Program funding
All 2026 Multifamily Consolidated RFP/2027 HTC Round 1 applicants must apply for funding through the Multifamily Customer Portal. To learn more about the Multifamily Customer Portal and to request a user account, visit our Multifamily Customer Portal Resources webpage.
Questions?
Contact mhfa.app@state.mn.us.
Updated Rent and Income Limits
HUD released Fiscal Year 2026 (FY2026) rent and income limits for the HOME Investment Partnerships (HOME) Program, National Housing Trust Fund (NHTF) Program, Section 8 Program, and Multifamily Tax Subsidy Projects (MTSP) for Housing Tax Credits (HTC) and Tax-Exempt Bond financed properties. Minnesota Housing uses the HUD published limits to compute income and rent limits for Multifamily loan programs.
These limits are available on Minnesota Housing’s Multifamily Rent and Income Limits webpage. Please note that the limits in several counties have decreased from FY2025.
Per HUD, the FY2026 rent and income limits for the Section 8 Program and MTSP have an effective date of May 1, 2026. The HOME Program and the NHTF Program limits have an effective date of June 1, 2026, and cannot be used until this date.
For more information, review our May 21 eNews.
Questions?
Contact Kate Norman at 651.539.9765 or kate.norman@state.mn.us.
Shopping for a First Mortgage or Thinking About Refinancing?
Minnesota Housing wants to work with you on all your multifamily first mortgage needs! Our Low and Moderate Income Rental (LMIR) first mortgages have terms up to 40 years for new construction or 35 years for rehabilitation or refinance. Our first mortgages are available year-round.
View our current interest rates and terms to learn more about what we offer.
Questions?
Contact Mike Tobias at michael.tobias@state.mn.us.
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2025, we distributed $1.8 billion in resources and served 73,000 households. Visit our website to learn more.
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