The Housing Fund

For nearly three decades, THF has been creating and sustaining affordable-housing and inclusive-development opportunities in communities throughout Tennessee.

Assist Low- and Moderate-Income People | The Housing Fund is a nonprofit Community Development Financial Institution (CDFI) in Madison TN 37115

What We Do

The Housing Fund provides resources and creative leadership to help individuals and communities create and maintain affordable, healthy places in which low- and moderate-income people live.

Strategies and services include:

As a nonprofit Community Development Financial Institution (CDFI), The Housing Fund’s capital, loans, products and services are intended to reach and assist under-resourced and economically-disadvantaged people and communities in order to remediate gaps not filled by the conventional banking/finance sector.

Our Story

The Housing Fund, Inc. was established in 1996 as a 501C3 nonprofit organization to help finance affordable-housing and neighborhood-revitalization projects in limited-income communities throughout Tennessee.

Since inception, THF has assisted over 4,400 first-time homebuyers to receive more than $37 Million in down-payment assistance loans, as well as provided more than $89 Million in financing to assist over 3,200 individuals and organizations for the purchase, rehabilitation, or construction of homes for low-to-moderate income families.

The Housing Fund Building | The Housing Fund is a nonprofit Community Development Financial Institution (CDFI) in Madison TN 37115


The Housing Fund’s story begins in 1993 with a communitywide visioning effort, Nashville’s Agenda—a citizen-led campaign to bring together disparate communities to imagine and produce 21 Goals for the 21st Century. Out of this effort came a 1995 Housing Action Team which recommended three major objectives for Nashville:

1. Establish a clearinghouse to coordinate opportunities around access to affordable homeownership;

2. Increase Nashville’s supply of affordable and subsidized housing; and

3. Invest more resources in housing solutions and create more incentives to develop property.


Nashville Housing Fund (NHF) was chartered as a “component unit” of the local public housing agency, MDHA, and an NFH board of directors was appointed. NHF received 501C3 status, and four local banks each pledged $250,000 to capitalize a new affordable-housing loan fund. Eight additional banks soon followed with similar investments. In September, NHF made its first Down Payment Assistance loan to a limited-income family.


NHF legally separated from MDHA to become a standalone organization. The four founder-investor banks each increased their investments to $1 million, and NHF applied to the U.S. Dept. of Treasury for Community Development Financial Institution (CDFI) status. NHF also applied for, and in 2000 received, $2 million in CDFI Funds which were then matched by the Metropolitan Government of Nashville (among others). With these funds, in 2001 NHF launched a development-loan program to finance the construction of affordable housing, and expanded the Down Payment Assistance loan program.


NHF outgrew its original office space and applied to the State of Tennessee for Low Income Housing Tax Credits to develop the mixed-use Laurel House Apartments (with NHF to occupy the first floor). Credits are awarded and NHF begins construction in the newly-established Gulch Redevelopment District. In 2004 NHF moved into Laurel House, the first new residential development built in The Gulch district.


The NHF Board voted to expand beyond Davidson County and change the organization’s name to The Housing Fund (THF). THF began offering development-loan services throughout the Nashville Metropolitan Statistical Area. In 2006 THF opened an office in Clarksville, Tenn., staffed with a loan specialist and a program coordinator. In 2007 THF hired a director of regional services, opened an additional office in Bowling Green, Ky., and entered into an agreement with the City of Franklin, Tenn.


Following Nashville’s devastating 1,000-year flood that damaged over 11,000 properties, THF –working with Metro-Nashville Government and MDHA– led a recovery program for impacted homeowners that ultimately distributed over $13 million in federal disaster aid. During this same period, THF successfully authored a $30 million application for Neighborhood Stabilization Program funds from the U.S. Dept. of Housing & Urban Development (HUD), and joined a local consortium of nonprofits [re]developing foreclosed/vacant properties.


As distribution of flood-recovery and Neighborhood Stabilization Program funding concluded, THF expanded its mission/services to include community-development financing. A $1.3 million CDFI Fund grant was awarded to assist homeowners with energy-saving retrofits and home repairs, and to develop real-estate-based loan programs for community facilities and local small businesses. In early 2014 THF earned statewide FHA certification and began offering homebuyer-assistance programs throughout Tennessee.


THF welcomed the appointment of Marshall Crawford as President and CEO. A five-year strategic plan is adopted, which included ways the community could get involved with The Housing Fund’s mission, both financially and as change-agents. 2017 also brought the creation of an inaugural Community Land Trust for Nashville-Davidson County, an opportunity to provide lasting community assets and shared-equity homeownership for individuals and families earning at or below 80% of AMI.


In the wake of a substantial property-tax increase for Nashville-Davidson Co., a $2.25 million grant from Amazon launches THF’s Housing Resiliency Fund to help minimize displacement of low-income homeowners and preserve affordable housing. THF also helps the Middle Tennessee community with home-rehabilitation services in the wake of a deadly EF3 tornado outbreak on March 2-3, 2020. In 2021 THF celebrates the 25-year anniversary of its founding, marked by a ceremonial renaming of Laurel House in The Gulch to Owens Place on Laurel, in honor of THF’s founder-executive director, Loretta Owens. 


The Housing Fund moves its physical headquarters to the Gallatin Pike corridor of Nashville’s Madison neighborhood, marked by a ribbon-cutting ceremony and open-house celebration. The Shared Equity loan program expands to Chattanooga, Knoxville, Memphis; THF acquires several single-family homes to support the program. A first-time homeowner purchases the third Community Land Trust property, Legacy House Nashville, a collaboration with Moody Nolan, the nation’s largest African-American-owned architectural firm.


With a dedicated and experienced staff and an effective and engaged Board of Directors, THF is a statewide leader in affordable housing, community development, and policy to support equitable and inclusive growth. As a certified and growing Community Development Financial Institution with an exceptional industry rating, THF continues to find innovative ways to meet the financial needs of the communities we serve. Check out our 2023-2027 Strategic Framework to learn more about our vision for this work over the coming years.

The Housing Fund 2023 Impact Report

Despite challenging externalities in real-estate and financial markets, THF surpassed FY 2023 financial targets and made substantial strides in inclusive growth and community impact.

In new investment during fy 2023
$ 0 M
New Consumer loans 30 shared equity and 264 DPA
in capital Deployed
$ 0 M
Affordable homes created/preserved

To help meet community needs around rising unaffordability, THF also acquired 17 affordable, single-family properties for Shared Equity homeownership in Tennessee.

Units of new affordable housing
Affordable housing units preserved
In grants funded for tax relief and mortgage/rent aid
$ 0 M
Leveraged through thf lending Partners
$ 0 M

Thank you to The Housing Fund’s partners and investors for their commitment to building and preserving affordable housing throughout Tennessee. This support is deeply appreciated.


Our Vision and Impact

Since inception, THF has assisted over 4,400 first-time homebuyers to receive more than $37 Million in down-payment assistance loans, as well as provided more than $89 Million in financing to assist over 3,200 individuals and organizations for the purchase, rehabilitation, or construction of homes for low-to-moderate income families.

Our Services

Looking to buy a home on a limited income? Are you a realtor or mortgage banker interested in housing LMI families? The Housing Fund can help.

Our Team

The Housing Fund’s staff and board are committed to building and retaining healthy, affordable homes and neighborhoods throughout Tennessee.

Work With Us

Build your career and give back to your community by applying for a full-time role or internship with The Housing Fund.