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The Housing Partnership Fund Inc

Annual Giving
$11.1M

The Housing Partnership Fund Inc

Quick Stats

  • Annual Giving (Loans): ~$200 million deployed since 2001
  • Annual Revenue: $11.07 million (2024)
  • Total Assets: $117.61 million (2024)
  • Grant/Loan Range: Varies by project (examples: $1.5M - $6.7M)
  • Geographic Focus: National (all 50 US states and 2 territories)
  • CDFI Rating: Aeris Four Star Policy Plus AA-

Contact Details

Overview

The Housing Partnership Fund Inc (HPF) was established in 2001 as the lending arm of the Housing Partnership Network (HPN). It operates as a U.S. Treasury-certified Community Development Financial Institution (CDFI) with a prestigious Aeris Four Star Policy Plus AA- rating. The organization's mission is to provide revolving loans for the purchase, rehabilitation, and development of housing available to low and moderate-income individuals and families.

Since inception, HPF has invested over $200 million across 50+ member organizations for affordable housing development, preservation, and operations. With total assets of $117.61 million as of 2024, the fund serves as a critical source of flexible, early-stage financing that traditional lenders often cannot provide. HPF is part of a larger network that has collectively developed, rehabilitated, or preserved over 500,000 affordable homes and served more than 16 million people to date.

Funding Priorities

Loan Products

Enterprise Capital

  • Purpose: Business line capital needs not tied to specific real estate projects
  • Uses: Start-up/expansion capital, working capital, predevelopment/acquisition funding
  • Security: Typically unsecured or alternatively secured

Predevelopment Loans

  • Structure: Term or revolving
  • Covers: Full range of predevelopment costs, site acquisition, holding costs
  • Security: Predevelopment loans typically unsecured; site acquisition loans use underlying asset as collateral

Acquisition Multifamily

  • Purpose: Bridge loans for land, building acquisition, construction, rehabilitation of multifamily properties
  • Security: First mortgage or subordinate lien; credit line facilities available

Single-Family Acquisition Rehab

  • Purpose: Credit facilities for acquisition and rehabilitation of single-family homes
  • Security: First mortgage or ownership interest

New Markets Tax Credits (NMTC)

  • Purpose: Flexible, low-cost capital supporting single-family homeownership
  • Enables: More affordable mortgages and homeownership support services

Housing Equity Fund (HEF) (Launched 2021)

  • Purpose: Enterprise-level capital for HPN members led by people of color at CEO or Board level
  • Goal: Address capital barriers perpetuated by systemic racism

Priority Areas

  • Affordable housing development
  • Housing preservation and rehabilitation
  • Supporting low and moderate-income populations
  • Organizations using housing as a platform to leverage better health, education, and wealth-building outcomes
  • Minority-led organizations (through Housing Equity Fund)

What They Don't Fund

  • Organizations that are not HPN members (membership required for HPF loans)
  • For-profit entities without nonprofit mission alignment
  • Projects not focused on affordable housing/community development
  • Organizations without demonstrated track record

Governance and Leadership

The Housing Partnership Fund Inc Leadership:

  • Carla Mannings - President (appointed November 2024), Vice President of Lending and Investment at HPN
  • Clark L. Ziegler - Chair of the Board
  • Catherine (Katie) Rodriguez - Former President (promoted to EVP, Capital Markets at HPN in June 2024)
  • Eric Chatman - Treasurer
  • Yadira Simmons - Clerk, Director of Asset Management and Legal

Board Members:

  • Michael Solomon
  • Nick Mitchell Bennett
  • Fred Dodson Jr
  • Jesse Elton
  • Adrian Ruiz

Key Staff:

  • Deborah Momsen-Hudson - Director of Lending
  • Virginia W. Mara - Director of Portfolio Management

Application Process & Timeline

How to Apply

HPF financing is available exclusively to members of the Housing Partnership Network. There is no public application process for non-members.

To Access HPF Financing:

  1. Your organization must first become a member of the Housing Partnership Network
  2. Complete the HPN Membership Inquiry and Eligibility Form
  3. Undergo vetting by HPN staff and Board membership committee
  4. Receive approval from HPN's Board of Directors
  5. Once a member, work directly with HPF staff to structure appropriate financing

Membership Eligibility Requirements

Organizations must meet these criteria to join HPN and access HPF capital:

  1. Mission-Driven: Independent nonprofit organizations (or nonprofit-owned/sponsored) whose primary mission is developing, preserving, operating, managing, and/or financing affordable housing and community facilities

  2. Sound Businesses: Strong executive leadership, professional management staff and systems, demonstrated track record of financial integrity and performance

  3. Inclusive Partnerships: Established organizations with close ties to diverse communities, including community-based organizations, business sector, government, and civic institutions

  4. Critical Impact: Catalysts for affordable housing production with deep impact in their geographies and communities

  5. Scope and Accountability: Operating on citywide, regional, multi-state, or national levels

  6. Culture of Collaboration: Committed to peer engagement and industry improvement

Getting on Their Radar

HPF works exclusively with HPN member organizations. To become eligible for HPF financing:

  • Start with HPN Membership: Complete the Membership Inquiry and Eligibility Form on the HPN website
  • Attend HPN Events: Participate in peer exchange events (virtual year-round plus two annual in-person meetings) to build relationships
  • Demonstrate Track Record: Organizations must show established affordable housing development/preservation/financing experience
  • Contact HPN Directly: Reach out via info@housingpartnership.net or (617) 720-1999 to discuss membership

Decision Timeline

Not publicly documented. Financing is structured collaboratively with member organizations through direct engagement with HPF staff.

Application Success Factors

What HPF Looks For:

  1. Proven Mission Alignment: Organizations must demonstrate commitment to serving low and moderate-income populations through housing

  2. Strong Financial Performance: Track record of financial integrity and sound business practices is essential

  3. Community Impact: Projects should deliver measurable impact in underserved communities

  4. Collaborative Approach: HPF values its "peer exchange model" - organizations that engage collaboratively and share knowledge are preferred

  5. Innovative Use of Capital: HPF describes its capital as "catalytic" - they seek organizations that will use flexible financing to be "entrepreneurial and nimble in their approach to market opportunities"

From HPF's Description of Their Approach:

"Their competitive advantage comes from collaborating with borrowers through HPN's peer exchange model. In addition to underwriting the 'real' risks of their borrowers and their projects, their close, collaborative relationships provide two additional advantages: they are often able to take on more risk than a traditional lender, and they're able to tailor their products to help members achieve even more impact in their communities."

Recent Funded Projects (Examples):

  • $1.5 million acquisition loan for an eight-story multifamily development with ground floor retail
  • $6.7 million collaborative loan (with Florida Community Loan Fund and BlueHub Capital) for multi-parcel development

Key Takeaways for Grant Writers

  1. Membership Required: HPF exclusively serves Housing Partnership Network members - organizations must first join HPN to access HPF financing

  2. Loans, Not Grants: HPF provides loan capital (not traditional grants), but with flexible terms designed for mission-driven organizations

  3. Relationship-Driven Process: HPF emphasizes collaborative relationships and peer exchange; engage with the network before seeking financing

  4. Flexible Capital Structure: HPF can often take on more risk than traditional lenders and tailors products to maximize community impact

  5. Strong Eligibility Bar: Organizations must demonstrate sound financial management, proven track record, and clear affordable housing mission

  6. Equity Focus Available: The Housing Equity Fund specifically supports organizations led by people of color at CEO or Board level

  7. National Scope: Despite Boston headquarters, HPF serves organizations across all 50 states through the HPN network

References

Accessed December 2025

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