What is the primary function of a housing finance agency?

The primary function of a housing finance agency is to assist in meeting affordable housing needs. These agencies operate at the state and local levels and are typically established to help facilitate the development and availability of affordable housing options for low- to moderate-income individuals and families. This is achieved through various means, including the provision of financing for housing development, the issuance of bonds to raise funds for affordable housing initiatives, and the administration of programs that promote homeownership and rental assistance for those who require it.

By focusing on affordable housing, housing finance agencies play a critical role in addressing housing shortages and ensuring that residents have access to housing that fits their financial capabilities. This is especially significant in areas where market-driven housing prices may be unattainable for many residents.