Calvert Giving Fund
Affordable Housing
Calvert Foundation works with over 50 organizations that provide affordable housing – those listed below devote the majority of their efforts to it. We have also included two additional resources for information on affordable housing:
- Read the Press Release
- Listen to the streaming audio recording of the press call
- See a list of all Calvert Foundation affordable housing borrowers
Five Leaders Recognized on Today's Call
Boston Community Capital
http://www.bostoncommunitycapital.org/
Contact: Jessica Brooks, (617) 427-3640
Boston, MA.
Boston Community Capital is a non-profit organization which has invested more than $300 million in affordable housing projects and businesses that build healthy communities where low-income people live and work – providing affordable housing for nearly 22,500 low-income people across the Commonwealth of Massachusetts. This housing has created more than $116 million in homeowner equity for low-income and first-time homeowners, and helped save low-income families nearly $510 million in cumulative rent. In May 2007, Boston Community Capital launched Aura Mortgage Advisors to provide first-time home buyers in low-income communities with mortgage loans designed with their financial situations in mind. Aura believes with the right education, resources and financial advice, families (including recent immigrants) can buy their first home and participate in the most prevalent wealth creation opportunity in America – home ownership. Boston Community Capital’s approach is designed to prevent potential homeowners from entering into mortgages which are too large or have payment structures which will ultimately not be financially feasible.
Federation of Appalachian Housing Enterprises
http://www.fahe.org/
Contact: Jenna Urusky, (859) 986-2321
Berea, KY.
The Federation of Appalachian Housing Enterprises (FAHE) has been making mortgage loans to some of the poorest families in Central Appalachia for more than 20 years. During that time FAHE has made more than 1,500 mortgages. FAHE also services an additional 800 loans to families earning $15,000 on average. Although delinquency rates were as high as 8% a few years ago, FAHE’s default rate has been cut to less than 3% in the past two years without increasing foreclosures. JustChoice Lending is a new residential mortgage business aimed at first-time homebuyers and those who need to refinance an existing mortgage. JustChoice Lending is backed by the Federation of Appalachian Housing Enterprises (FAHE), a mission-based, member-driven network with more than 20 years experience in helping families get an affordable mortgage. JustChoice Lending builds on FAHE's lessons in affordable housing roots to offer fair and competitive options for all families across the Central Appalachian region.
MANNA
http://www.mannadc.org/
Contact: George Rothman, (202) 832-1845
Washington, D.C.
Since 1982, Manna has been serving low and moderate-income families, assisting them to fulfill the dream of home ownership. In that time, they have created and preserved over 800 units of affordable housing for low and moderate-income DC residents. Manna homeowners have accrued over $50 million in equity. Their financial literacy and homeowner training program has been replicated more than 200 times across the nation. To assist people in difficult credit situations, some even facing imminent foreclosure, Manna Mortgage provides mortgage counseling and true fixed rate mortgages. These loans are offered by four responsible lenders that keep fees low and have flexible underwriting and qualifying terms. Such mortgages can sometimes be offered to people with recent bankruptcies, recent mortgage late payments, current collections or judgments, or rising rate adjustable loans which they can no longer afford. A major challenge to Manna Mortgage is reaching more of the many persons in DC in need of responsible mortgage services. This will require more effective outreach and an expanded staff. Manna is working with several foundations to help expand its capabilities as well as partnering with other nonprofit and governmental programs where client-focused mortgage services are needed.
McAllen Affordable Housing
http://www.nclr.org/content/affiliates/detail/27318/
Contact: Victoria Herschberg, (956) 687-6263
McAllen, TX.
McAllen Affordable Homes, Inc. (MAHI) was formed 30 years ago to eliminate substandard housing and provide low-income residents an affordable option for housing in the City of McAllen, Texas. Since then, MAHI has helped more than 2,500 low-income families realize their dream of homeownership or has assisted in the rehabilitation of their home. MAHI primarily receives funds from the City of McAllen’s Community Development Block Grant program and from other sources. The city of about 110,000, located only miles north of the U.S.-Mexico border, has emerged as one of the fastest growing cities in the United States, but poverty, lack of housing options and substandard conditions remain obvious problems. The MAHI Board of Directors, who receive no compensation, and MAHI staff hope to remedy some of these realities through aggressive processing of loan applications, reducing the waiting list of applicants, lowering mortgage payments and repairing substandard homes. In 2001, the Community Development Corporation of South Texas (CDCST) began operating with the ideals and goals of MAHI, but with the ability to assist people outside of the City of McAllen. The two non-profits share an office and resources, but CDCST focuses on providing housing throughout the Rio Grande Valley.
Self Help Enterprises
http://www.selfhelpenterprises.org/
Contact: Peter Carey, (559) 651-1000
Visalia, CA.
Formed in 1965, the mission of Self-Help Enterprises (SHE) is to improve the living conditions of low-income people and the communities they call home in the eight counties of the San Joaquin Valley. This service area of over 15,000 square miles is home to most of the state's low-income farmworkers. The primary emphasis of the organization continues to be the creation of new housing opportunities and the preservation and improvement of existing housing stock. As an organization, SHE is dedicated to the belief that a decent home is the basic building block for families, neighborhoods and communities. SHE was the first organization in the nation to focus on the concept of "sweat equity" housing with the belief that low-income people want to help themselves and, given an opportunity like mutual self-help housing, would surmount substantial obstacles to do so. Self-Help Enterprises' success as the nation's largest mutual self-help housing organization, and the growth of over 80 sister organizations nationwide, has dramatically validated that faith. Now in its 42nd year, SHE has completed over 5,544 new self-help homes and built 19 multifamily housing communities with over 1,000 rental units. Together, SHE and its partner communities have rehabilitated over 5,545 homes and assisted 1,079 first-time homebuyers. SHE's Community Development program has provided 21,087 water and sewer hook-ups in rural areas. Homeownership counseling and education is a key component of SHE’s housing programs.
Our Partners
Affordable Housing Resources (Nashville, TN)
Alternatives Federal Credit Union (Ithaca, NY)
Appalachian FCU (Berea, KY)
Asian Americans For Equality (New York, NY)
Bank2 (Oklahoma City, OK)
Boston Community Capital (Boston, MA)
BRIDGE Housing Corporation (San Francisco, CA)
Burbank Housing Development Corporation (Santa Rosa, CA)
Central Community Housing Trust (Minneapolis, MN)
Chicago Community Loan Fund (Chicago, IL)
Common Ground Community (New York, NY)
Community Ventures Corporation (Lexington, KY)
Cornerstone, Inc. (Washington, DC)
D.C. Habitat for Humanity (Washington, DC)
Enterprise Community Partners (Columbia, MD)
Federation of Appalachian Housing Enterprises (Berea, KY)
First State Community Loan Fund (Wilmington, DE)
Greater New Haven Community Loan Fund (New Haven, CT)
Housing Assistance Council (Washington, DC)
Kansas City Neighborhood Alliance (Kansas City, MO)
Local Initiatives Support Corporation (New York, NY)
Louisville Community Development Bank (Louisville, KY)
Low Income Investment Fund (San Francisco, CA)
Manna Inc. (Washington, DC)
McAllen Affordable Homes (McAllen, TX)
Mercy Loan Fund (Denver, CO)
Michigan Interfaith Trust Fund (Lansing, MI)
Midwest Minnesota Community Development Corporation (Detroit Lakes, MN)
Neighborhood Capital Corporation (Cleveland, OH)
New Hampshire Community Loan Fund (Concord, NH)
Northcountry Cooperative Development Fund (Minneapolis, MN)
Northcountry Cooperative FCU (Minneapolis, MN)
Northern California Community Loan Fund (San Francisco, CA)
Opportunities Credit Union (Burlington, VT)
Peoples' Self Help Corporation (San Luis Obispo, CA)
Project for Pride and Living (Minneapolis, MN)
Rocky Mountain Mutual Housing Association, Inc. (Denver, CO)
Self Help Credit Union (Durham, NC)
Self-Help Enterprises (Visalia, CA)
Self Help Ventures Fund (Durham, NC)
ShoreBank Chicago (Chicago, IL)
Southern Mutual Help Association, Inc. (New Iberia, LA)
Sustained Excellence Alliance (New Iberia, LA)
The Reinvestment Fund (Philadelphia, PA)
Unitarian Universalist Affordable Housing Corporation (Silver Spring, MD)
