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Owens Place on Laurel

Awarded 2004 Project of Excellence Award by Urban Land Institute, Owens Place on Laurel (previously known as Laurel House) is a mixed-use development containing affordable housing rental units, along with retail and office space. Uniquely designed, only one-bedroom units are offered.

Shared Equity Models

The “Our House” Program provides an initial investment of up to 25% of the sales price to income eligible buyers. The investment preserves the equity in the home upon resale. As a trade-off for increased affordability, if a home buyer chooses to sell, a percentage of the home’s appreciated value is retained by THF to keep the home affordable for the next family.

Community Land Trust

The CLT is a strategy designed as a coordinated, cross-sector response that rapidly results in a large portion of the existing market-rate housing in the core residential areas being “converted to or replaced by income-restricted housing.” The advantage of the CLT concept is permanency, which unlike most housing assistance programs that use public dollars and charitable donations to bring homeownership or rental housing within reach of lower-income families, the CLT does not allow the affordability of the properties located the land trust community to lapse after 5 years, 15 years, or 30 years; it does not allow these communities of inclusion to erode.

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Loan Servicing

The Housing Fund provides loan servicing directly to its borrowers, for local governments, and financial institutions.

As a result of COVID-19, we were able to offer several options: a 90 day deferments and a one-time cash-out refinance.

Deferment Process

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COVID-19 has created unexpected and unprecedented financial challenges. Homeowners have been particularly affected by recent events, and many have been forced to place their mortgages in forbearance.

For our existing clients, the deferment is a gradual repayment option that allows borrowers to make monthly payments on their loan. During the deferral, the delinquency period and status of the loan is adjusted back to the status of the loan before the forbearance period started.

To learn more about our deferral program call 615-780-7000

One-Time Cash Out Refinance

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For our existing clients, The Preserving the American Dream Program as a one-time cash-out refinance option in response to the effects of COVID-19. Our program is intended to lessen financial hardship and increase access to capital by allowing customers to refinance their down payment assistance loan and draw cash out up to the amount of the initial loan.

For example, a client who received a $10,000 down payment assistance loan and currently owes $6,000 may recapitalize up to the initial loan amount, giving access to $4,000. This money must be used to pay the first mortgage and/or what will be required from the forbearance.

Community Loan Center of Mid TN

Get In Touch

Contact Us:

Mailing address: PO Box 657

Madison, TN 37116

Physical location:
1009 Gallatin Pike S
Madison, TN 37115

(615) 780-7000