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Affordable Housing

Calvert Foundation investors have supported the development of over 10,500 affordable housing units, building stronger, more productive communities.

Learn more about our Affordable Housing Portfolio by downloading our Affordable Housing Memo.

The Washington Post Features Calvert Foundation

In 2007, Calvert Foundation's loan portfolio for affordable U.S. housing grew by 15 percent over 2006, with over $17 million lent out to organizations such as Manna, AHC and Habitat for Humanity D.C. The Washington Post recently covered the work of Calvert Foundation and many of the groups we support in the DC area that are working to get families into homes and keep them there - through responsible lending, counseling and educational programs.

More About Investing in Affordable Housing

By investing in affordable housing through Calvert Foundation you are investing in more than a place for a family to live. You are investing in organizations that are dedicated to the improvement of both urban and rural life. Affordable housing investments are channeled to organizations that provide:

  • Subsidized Loans:  Financing is offered to low-income families at affordable rates.
  • Education: The organizations we invest in understand that a home by itself will not pull a family out of poverty, which is why they offer services such as job training, counseling for first-time homebuyers and mentoring programs.
  • Community Development: Statistically, communities where neighbors interact and know one another are safer places to live. Likewise, having a network of people facing similar issues provides support for new homeowners and their families. Jobs and schools located within a community encourage people to take better care of their surroundings and take ownership in the overall health of their community.
  • Neighborhood Revitalization: Combining careful placement efforts with educational programs and job opportunities has helped rebuild and reenergize neglected neighborhoods.
  • Homeowner and Tenant Rights: Immigrants, minorities and their families often require assistance understanding and defending their rights to live in homes that meet baseline safety standards.
  • Environmental Sustainability: "Green" housing is emerging as an element of affordable housing. These homes are constructed to use less energy, effectively reducing utility bills and green house gas emissions.

About Calvert Foundation's Housing Portfolio:

Calvert Foundation’s Affordable Housing portfolio consists of $20 million in loans to 34 successful, nationally recognized nonprofit housing developers and lenders.

Calvert Foundation’s borrowers continue to succeed at providing affordable financing and homes to low-income communities while avoiding the delinquencies and foreclosure rates common among conventional mortgage banking providers. Nonprofits outperform market-rate lenders for several reasons, such as:

  • These groups originate fixed-rate mortgages and have avoided exotic, variable rate mortgage lending where most losses are occurring.
  • They are close to and knowledgeable about the communities in which they lend.
  • They have excellent pre-purchase and post-purchase counseling systems in place for low-income borrowers.
  • They typically retain servicing for the loans that they originate and know their borrowers well, including how to communicate with them.
  • They are patient and work hard to restructure loans when borrowers face difficulty rather than foreclosing quickly.

You may also be interested in the Affordable Housing Presentation that accompanied our recent investor briefing call. This presentation lhighlights the strength of our portfolio, as well as our efforts to be a part of the solution to the current housing crisis.