HUD Capital Advance Program
HUD makes capital advances to nonprofit organizations for the construction, acquisition, or rehabilitation of housing for person age 62 or older (under Section 202 of the Housing Act of 1959 as amended) or disabled persons (under Section 811 of the National Housing Act). Capital advances bear no interest and need not be repaid so long as the housing remains available to elderly or disabled persons for at least 40 years. Only nonprofit projects are eligible for assistance under capital advance programs. Capital advance programs are typically supplemented with rental assistance.
