State Housing Finance Agencies (HFAs) are state-chartered authorities established to help meet the affordable housing needs of the residents of their states. Although they vary widely in characteristics such as their relationship to state government, most HFAs are independent entities that operate under the direction of a board of directors appointed by each state’s governor. They administer a wide range of affordable housing and community development programs.
Using Housing Bonds, the Housing Credit, HOME, and other federal and state resources, HFAs have crafted hundreds of housing programs, including home ownership, rental, and all types of special needs housing. Many agencies also administer other federal housing programs, including Section 8 and homeless assistance.