To promote sustainable community development and quality of life in the Midwest
by providing resources for the development of affordable housing.
Who is MHDF
Midwest Housing Development Fund, Inc. (“MHDF”) was formed to meet nontraditional financing needs for the creation, development and rehabilitation of affordable rental housing in our communities. The primary financing product of MHDF is predevelopment loans that are provided to borrowers prior to them having access to traditional construction and permanent financing. In response to other unmet financing needs, MHDF now offers several other nontraditional types of financing. All of MHDF’s financial products are provided to meet financing needs that are not being met by conventional and government sources. MHDF helps to create affordable housing by being a non-traditional financing source and technical assistance provider to sponsors of quality, sustainable affordable housing.
MHDF was formed as a nonprofit Community Development Financial Institution
so that it can best leverage public and private resources. These financial resources of debt and equity are placed into a revolving loan pool and are made available as different types of loans to affordable housing developments. These loans must be repaid to MHDF as agreed upon and then the funds are placed back into the revolving loan funds and used to create more affordable housing.
MHDF provides capital for rental property development activities by offering flexible financing products that are not generally otherwise available.
MHDF’s product line continues to expand to meet the needs of affordable housing developers and provides a full range of services including:
- Pre-Development Financing
- Acquisition Financing
- Construction Loan Financing
- Permanent Financing
- Workforce Housing Loans
- TIF/Tax Abatement Loans
- Gap Loans
- Year 15 Mini-Perm Loans