Capital Magnet Fund

Capital Magnet Fund

The Capital Magnet Fund offers competitively awarded grants to finance affordable housing solutions and community revitalization efforts that benefit low-income people and communities nationwide. This is the real change that communities recognize. To date, the Capital Magnet Fund has:

  • Generated $20 of additional investment for every $1 of award funding.
  • Created over 13,000 affordable homes, including more than 11,500 rental housing units and more than 1,500 homeowner-occupied units.

View the Capital Magnet Fund Fact Sheet › (English / Español)

Opening Date
May 28, 2020

Application Deadline

Announcement Date


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.

Reference Documents


Capital Magnet Fund Applicants must be:

  • A certified CDFI, or
  • 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).

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Click here to learn how to find CDFIs and CDEs that are providing services in your community.



Certification CMF Steps/DispForm.aspx?ID=5Certification Step 11CDFI Certification/programs-training/Programs/cmf/Pages/cdfi-certification-step.aspx#step1
Apply CMF Steps/DispForm.aspx?ID=1ApplyStep 22Timeline| Application Materials/programs-training/Programs/cmf/Pages/apply-step.aspx#step2
Award Announcement CMF Steps/DispForm.aspx?ID=2Award AnnouncementStep 33Award Announcement/programs-training/Programs/cmf/Pages/award-announcement-step.aspx#step3
Closing and Disbursement CMF Steps/DispForm.aspx?ID=3Closing and DisbursementStep 44Closing and Disbursement/programs-training/Programs/cmf/Pages/closing-disbursement-step.aspx#step4
Compliance and Reporting CMF Steps/DispForm.aspx?ID=4Compliance and ReportingStep 55Compliance and Reporting/programs-training/Programs/cmf/Pages/compliance-step.aspx#step5



Awards Tools Resources/DispForm.aspx?ID=6AwardsLooking for more about Awards for this program? Find it on our Awards page<img alt="" height="283" src="/SiteCollectionImages/Stock%20Images/shutterstock_57862405.jpg" width="425" style="BORDER:0px solid;" />/awards/state-awards/Pages/default.aspx



Our Impact Tools Resources/DispForm.aspx?ID=7Our ImpactLearn more about the impact of the CDFI Fund on our Impact Blog<img alt="" src="/Style%20Library/cdfi/pic-highlight1.jpg" style="BORDER:0px solid;" />/impact/Pages/default.aspx

CDFI Fund Tools & Resources



Compliance and Performance Reporting Resources Tools Resources/DispForm.aspx?ID=1Compliance and Performance Reporting Resourcesicon-checkmarkHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E21/Pages/amisreporting.aspx
CIMS Mapping Tool Tools Resources/DispForm.aspx?ID=2CIMS Mapping Toolicon-mapHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E22/Pages/mapping-system.aspx
AMIS Tools Resources/DispForm.aspx?ID=3AMISicon-communityHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E23