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Find similar grantsCapital Magnet Fund is sponsored by Department of the Treasury, Community Development Financial Institutions Fund (CDFI Fund). This opportunity supports mission-aligned projects and measurable outcomes.
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The Capital Magnet Fund offers competitively awarded grants to CDFIs and nonprofit affordable housing organizations to finance affordable housing solutions and community revitalization efforts that benefit individuals and families with low-incomes and low-income communities nationwide.
To date, the Capital Magnet Fund has: * Generated $34 of additional investment for every $1 of award funding * Supported the financing and development of over 205,000 affordable homes, including more than 194,000 rental housing units and nearly 12,000 homeowner-occupied units Low-income families across America experience difficulty finding affordable housing, with many spending over half of their paychecks on rent.
This burden leaves little income for other necessities such as food, medical care, transportation, and savings – essential services that are often not readily available in low-income communities. The Capital Magnet Fund was created to spur investment in affordable housing and related economic development efforts that serve low-income families and low-income communities across the country.
Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.
Awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees.
Organizations that receive Capital Magnet Fund awards are required to produce housing and community development investments at least ten times the size of the award amount, generating a multiplier effect that means that more low-income people and low-income communities nationwide will have housing options within their financial reach.
Capital Magnet Fund Applicants must be: * A non-profit organization operating with a principal purpose of developing or managing affordable housing solutions All Applicants (regardless of entity type) must demonstrate that they have been in existence as a legally formed entity for at least three years prior to the funding round application deadline. For more detailed information, please refer to the Notice of Funds Availability (NOFA).
According to the current listing, eligibility includes: A Certified CDFI or a non-profit organization operating with a principal purpose of developing or managing affordable housing solutions. Confirm the full requirements in the official notice before applying.
Capital Magnet Fund is funded by Department of the Treasury, Community Development Financial Institutions Fund (CDFI Fund). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
The CDFI Fund opened the CY 2026 New Markets Tax Credit round with $5 billion in allocation authority — half the record $10 billion awarded in January. CDE certification closes September 22, AMIS registration October 6, and applications November 10. Miss the registration and the November deadline is irrelevant.
Read articleThe CDFI Fund published the CY2026 NMTC Notice of Allocation Availability on September 15, 2026. It offers $5 billion, down from $10 billion last round, against demand that already hit $19.2 billion. Applications close November 10. But the deadline that eliminates most would-be applicants is September 22 — and it is not the application deadline.
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