Tax-Exempt Housing Bonds FAQ (MRBs, Multifamily)
The Mortgage Revenue Bond (MRB) and tax-exempt multifamily housing bond programs (collectively, Housing Bonds) are financing tools used by state Housing Finance Agencies (HFAs) to finance low-interest mortgages for low- and moderate-income home buyers and to acquire, construct, and rehabilitate multifamily housing for low-income renters. HFAs, as well as other state and local governmental entities, sell tax-exempt bonds for housing and other activities with private ownership but that serve a public purpose (called “Private Activity Bonds”) to investors.
The Tax-Exempt Housing Bonds FAQ (last updated January 2018) covers the following:
- What are Housing Bonds?
- Are Housing Bonds one of the original uses of PAB authority?
- How do HFAs use Housing Bonds?
- How much bond authority do states have?
- What restrictions exist on the use of Housing Bonds?
- Why should Congress protect Housing Bonds?
- What is the economic impact of Housing Bonds?
- Would other tools for financing affordable housing be more efficient?
- What does this program cost?