1-5 Copies
NALHFA Member. . . . . . . . . . . . $25.00
Non-Member. . . . . . . . . . . . . . . $30.00

6 or more Copies
NALHFA Member. . . . . . . . . . . . $20.00
Non-Member. . . . . . . . . . . . . . . $25.00

NALHFA’s Bonds for Beginners demystifies bond finance and examines the essential rules, concepts and players involved in issuing taxexempt bonds for affordable housing.

“This is a particularly valuable book, which we have used with staff and elected officials’ offices to understand how revenue bond financing works.”
– Judy Karon, Department of Community and Economic Development Ramsey County, Minnesota

Bonds for Beginners is a good orientation tool for new board members and employees of housing finance agencies, public housing authorities, community development agencies and non-profit organizations involved in financing affordable housing. This guide provides individuals with a good foundation of knowledge, so they can work more successfully with agency professionals and staff. Most importantly, Bonds for Beginners is written in clear, easy-tounderstand language that is concise, while still addressing the important technical nuances of housing bond finance.

Chapter Overviews (Each chapter includes a Summary and Learning Questions):

• Bonds & Yields: Overview of a bond and how to measure interest and yield
• Credit Worthiness: The basic process for determining credit worthiness
• Issuing Bonds: The bond issuing process and how the bonds are repaid
• Selling Safety & Quality: How issuers make bonds more attractive to the bond market
• Housing Bonds: The conditions under which housing bonds can be issued
• Playing the Market: What happens to bonds in the market after they are issued
• Default Watching: The issuer’s duty to monitor their bond issues

“Bonds for Beginners is very informative and helpful. It’s a good overview of how housing bonds work - from beginning to end.”
– Chris Taggert Countrywide Home Loans West Hills, California