The Housing Fund

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


What We Do

The Housing Fund provides resources and creative leadership to help individuals and communities create and maintain affordable and healthy places in which low and moderate income people live. Our strategies, programs, 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 private, 501(c)(3) nonprofit organization to 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’s story begins in 1993 with a communitywide visioning effort called Nashville’s Agenda. This was a citizen-led campaign to bring together many disparate communities in Nashville to imagine and produce “21 goals for the 21st Century.” Out of these visioning sessions, in 1995 a Housing Action Team for Nashville’s Agenda organized three objectives:

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.


The Nashville Housing Fund (NHF) was chartered as a “component unit” of the local public housing agency, a separate Nashville Housing Fund Board was appointed, and NHF received IRS 501(c)3 status in May. Four local banks pledge $250,000 each to capitalize a new affordable housing loan fund. Eight additional banks soon follow with similar investments. In September 1996, NHF made its very first Down Payment Assistance loan to a limited-income family.


NHF legally separated from the public housing agency becoming a separate legal entity, the “big 4” banks increased their investments to $1 million each, and NHF applied to the U.S. Department of Treasury for status as a Community Development Financial Institution (CDFI). Concurrently NHF applied for and in 2000 received $2 million in CDFI funds, which were then matched by locally-raised funds from the Metropolitan Government of Nashville-Davidson County and other sources. With these funds, in 2001, NHF started its Development Loan Program, financing the construction of affordable homebuyer and rental housing developments and expanded its existing Down Payment Assistance loan program.


NHF outgrew its original offices and applied to the State of Tennessee for Low Income Housing Tax Credits to develop the mixed-use Laurel House Apartments with NHF offices on the first floor. The credits are awarded and NHF begins construction of the development in the newly created Gulch Redevelopment District. In 2004, NHF moved to Laurel House, becoming the first new residential development in the District.


The NHF Board voted to expand outside Davidson County and changed the organization’s name to The Housing Fund (THF). THF now offers development loan services to the surrounding counties comprising the Metropolitan Statistical Area. In 2006, THF opened an office in Clarksville, Tennessee at that city’s request, staffing it with a Loan Specialist and Program Coordinator. In 2007, THF hired a Director of Regional Services, opened an additional office in Bowling Green, Kentucky servicing a three county region, and entered into an agreement with the City of Franklin, Tenn.


Following a devastating 1,000-year flood in Nashville that damaged over 11,000 properties, THF –working with Metro-Nashville Government and the Metropolitan Development & Housing Agency (MDHA)– led a flood-recovery program for impacted homeowners that ultimately distributed over $13 million in federal disaster-recovery funds. During this same period, THF successfully authored a $30 million application for Neighborhood Stabilization Program (NSP) funds from the U.S. Department of Housing & Urban Development and joined a local consortium of nonprofit agencies developing and redeveloping foreclosed and vacant properties.


As the flood recovery and NSP programs concluded, in their wake THF expanded its product offerings and mission from assisting low-to-moderate income homebuyers and affordable-housing developers to also include meeting broader community-development financing needs–receiving a $1.3 million CDFI Fund grant to assist homeowners with energy-saving retrofit and repair projects, and to develop real-estate-based loan programs for community facilities and neighborhood-based 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 and adopted a new, five-year strategic plan 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.


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 17 affordable, single-family properties for the program. A first-time homeowner purchases the third Community Land Trust home, 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 retaining affordable housing throughout Tennessee. Your support is greatly 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.

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