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To promote sustainable community development and quality of life in the Midwest

by providing resources for the development of affordable housing.

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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. At MHDF’s beginning, the primary financing product of MHDF was predevelopment loans for borrowers prior to their ability to access traditional construction and permanent financing. In response to other unmet financing needs, MHDF now offers several other types of financing. Many 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 flexible 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.

See our 2023 Annual Report MHDF 2023 annual report

Collection of historic MHDF photos 1314 W 3rd, Everett School,
Sioux City, IA

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
  • TIF/Tax Abatement Loans
  • Gap Loans
  • Workforce Housing Loans