Mass Housing Investment Corporation (MHIC)

The Mass Housing Investment Corporation (MHIC) is a private non-profit by a consortium of banks to fill a critical gap in meeting the credit needs of affordable housing developers. Initially focused on attracting investor capital for Low Income Housing Tax Credit (LIHTC) tax credit properties, and a loan pool for construction and acquisition lending, they expanded to include the New Markets Tax Credit (NMTC) program. To-date, MHIC has raised over $2.10 billion from over 109 institutional investors to support its LIHTC activities in Massachusetts and its NMTC activities throughout New England.

MHIC’s major product lines include:


Lending & Concentrating On Building Strong and Sustainable Communities

Under this program, MHIC provides construction financing, acquisition loans and pre-development loans, and bridge loans for Historic Tax Credits to sponsors of LIHTC and NMTC properties. They work with both for-profit and non-profit developers and community-based organizations to finance property acquisition and new construction or rehabilitation of multi-family rental, homeownership, or mixed-use projects with no minimum or maximum size of loans.


Housing Tax Credits: The Most Important Source of Financing for Affordable Rental Housing

When MHIC was founded in 1990, LIHTC equity was the primary source it used for funding housing projects. While MHIC now offers many other products, they are considered a market leader and a major provider of LIHTC financing for affordable housing in Massachusetts. They provide equity financing for affordable housing and community development projects that use federal low-income housing tax credits or federal historic tax credits, or a combination of both. We finance new construction, rehabilitation of existing housing, and historic rehabilitation of existing housing.


New Markets Tax Credits

MHIC is recognized as a national leader in the use of New Markets Tax Credits, the federal program created to stimulate economic development in low-income communities. Many of the financing structures they have crafted have been “firsts,” considered models for similar financings used for other projects throughout the country.


Healthy Neighborhood Equity Fund

The Conservation Law Foundation (CLF) and MHIC are working in collaboration with the State’s Executive Office of Housing and Economic Development as well as other partners to attract new sources of private equity (including Program-Related Investments from foundations) to support moderately priced and market-rate housing, local job creation, commercial development, and healthy, walk able, mixed-use neighborhoods in a variety of TOD settings, and to align equity investments with other sources of funds, including state housing, economic development, and infrastructure dollars, in order to catalyze and accelerate the development of high-impact TOD projects along key transportation corridors.