Affordable Housing
The development of affordable housing is a key facet of The Housing Fund’s community development efforts. We Germantown Commons 3have assisted in the creation or preservation of affordable housing ranging from supervised apartments for special needs populations, to transitional housing and single family homes for homeownership.

Loans can be for pre-development, acquisition, construction, and rehabilitation. In addition to the loan programs described below, THF works with larger developers and other funding sources to create project – or program – specific lines of credit.


Program Guidelines:

  • The sales price or rents must be affordable to low and moderate income families; or,
  • The project must be located in a low or moderate income census tract (You can check an individual address by geocode, on line at (
  • THF will loan up to 90% of the cost of the project or 80% of the value, whichever is less.
  • Repayment terms are based on the individual project.
  • Rental projects must have a commitment for permanent financing before final approval from THF can be given.

Interest Rates and Fees

Non-profit Developers …………………… Prime plus 1%
For-profit Developers ……………………. Prime plus 2% with a floor of 5.25%
Non-profit loans have a 1/2 percent fee;  For-profits pay 1 percent and all borrowers are responsible for paying closing costs.

*Interest Rates and Fees are subject to change.

Completed loan applications include:
  • Borrower name, address, phone number and previous development experience
  • Financial Information on the Borrower
  • The purpose of the loan
  • Amount requested
  • How will the loan be repaid
  • Project location
  • What collateral will be used to secure the loan
  • What term (length) is requested
  • Project budgets and plans, if available

Applications may be submitted in person or by fax (615) 780-7001.

Free technical assistance and consultation may be available to assist you with project development and financing options.  For further information contact The Housing Fund at (615) 780-7000.

Development Loans for Affordable Housing