HOA promotes affordability by supporting housing developments that target a cost per unit which is 10% to 15% below local, low-end-of-market prices. Low actual costs are achieved through many means including intelligent land acquisition, effective designs and low overhead, financing and marketing costs.
HOA helps developers of new affordable homes with two forms of project financing.
- HOA lends its development partners early-stage loans to assist with feasibility studies, land acquisition and early marketing and sales
- When developments proceed, HOA provides the substantial financial guarantees needed to arrange construction financing from conventional sources.
