National Equity Fund

Connecting people. 
Providing solutions. 
Investing in brighter futures.


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Mission & Vision

National Equity Fund’s mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.

We envision a society where increased access to affordable housing empowers every individual and family to reach their full potential.

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Differentiators

  • One of the largest Non-profit Tax Syndicators committed to expanding, diversifying and preserving affordable housing for the long term
  • Mission-driven experts in Low-Income Housing Tax Credits since 1987
  • Pioneers in Supportive Housing with three decades of demonstrated impact
  • Innovators in finding new ways to deepen and broaden the creation and preservation of affordable housing with expertise in preservation lending, workforce housing and pre-development lending
  • Industry leaders in combining Opportunity Zone credits with LIHTC
  • Cultivators of long-term partner relationships and award-winning projects in urban, suburban and rural areas
NEF ADS

Innovative & Collaborative Solutions

Low-Income Housing Tax Credits (LIHTC)

Enacted in 1986, the federal low-income housing tax credit (LIHTC) was created to advance the production and preservation of affordable housing. Each state allocates LIHTC to qualified affordable housing developers who then sell them to an investor, or to a tax-credit syndication fund made up of equity from one or from many investors. In return, the investors receive a credit against their federal income tax based on the size of their investments.

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Predevelopment Loans

NEF’s pre-development lending team provides critical early financing to assist our partners in developing affordable housing. Targeted pre-development funds cover a variety of development expenses, from professional fees to acquisition, including the costs of tasks that need to be completed before construction closing.

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Workforce / Moderate Income Rental Housing

NEF offers specialized financing solutions targeted to working individuals and families in the "missing middle" who are not income-eligible for LIHTC properties but struggle to find affordable housing options in neighborhoods close to job opportunities.  

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Preservation Lending

NEF's experienced Preservation Lending team provides financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase.

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Supportive Housing

NEF has been a pioneer in permanent supportive housing since the very first days of LIHTC. Our supportive housing leaders are advocates for the most vulnerable individuals and families, experts in the planning and operation that goes into these developments and knowledgeable about government programs and policies that can help families and individuals to thrive.

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State Tax Credits

State tax credits offer an essential additional resource for the affordable housing market—delivering benefits to both developers and investors while generating critical equity needed to deliver more affordable housing.

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NEF in the News

Road To Housing 2
August 11, 2026

Our Preservation Perspective: What the 21st Century ROAD to Housing Act Means for Preserving Existing Affordable Homes

To solve the affordable housing crisis, protecting existing homes is just as critical as building new ones. Part 2 of our ROAD to Housing Act series focuses on preservation—and how new policy shifts create real-world opportunities for communities.

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Inn Town Lofts Finalist
August 10, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #6: Inn Town Lofts

Another one of NEF's 2026 AHF Readers' Choice Award Finalists is Inn Town Lofts. Read more about our finalist in the Historic Rehab category below and don't forget to vote!

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Eagle Villas Finalist
August 07, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #5: Eagle Villas

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Open Access
August 07, 2026

2026 Open Access Fellowship Program Outcome

Two months ago, NEF welcomed Jamila Danzy as our 2026 Open Access Fellow. The Open Access Fellowship Program focuses on removing barriers to opportunity within the community development finance space. The paid fellowship immerses professionals in the industry sector through hands-on placements, LIHTC training, financial modeling and mentorship.

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Kafoury Finalist
August 06, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #4: Ernest Warren Jr. at Kafoury Court

NEF's next 2026 AHF Readers' Choice Award Finalist is Ernest Warren Jr. at Kafoury Court in the Seniors category!

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Road To Housing 1
August 05, 2026

From Policy to Practice: What the 21st Century ROAD to Housing Act Means for Affordable Housing

The 21st Century ROAD to Housing Act is now law. Paired with last year’s historic LIHTC expansion, our industry has a powerful new set of tools to build and preserve more affordable homes.

So, what does this legislation actually do and why does it matter? Learn more...

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The Rise Alternate Photo Finalist
August 02, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #3: The Rise

Another one of NEF's 2026 AHF Readers' Choice Award Finalists is The Rise in Brooklyn, NY! The Rise is one of our finalists in the Permanent Supportive Housing category.

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Hillside Senior Grand Opening
July 30, 2026

Turnstone Development Brings 42 New Affordable Homes to Seniors Age 55+ in Hillside, IL

NEF is proud to support the development of Hillside Senior Apartments, a new 42-unit affordable housing community for seniors 55 and older in Hillside, IL. The five-story, fully accessible development provides 34 one-bedroom and 8 two-bedroom homes, offering seniors quality, affordable housing in a community designed with their needs in mind. 

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Shirley Chisholm Villagefinalist
July 29, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #2: Shirley Chisholm Village

Up next on NEF's list of 2026 AHF Readers' Choice Award Finalists is Shirley Chisholm Village, one of our finalists in the Urban category! Shirley Chisholm Village is a new affordable housing community in San Francisco, California, developed by MidPen Housing Corporation.

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Mosaic Finalist
July 28, 2026

2026 AHF Readers' Choice Award Finalist Spotlight #1: Mosaic Apartments

Are you ready to meet NEF's first 2026 AHF Readers' Choice Award Finalist? Mosaic Apartments is one of our finalists in the Seniors category. Mosaic Apartments is a 48-unit, 100% affordable senior housing community in Pittsburgh’s Oakland neighborhood and the first LGBTQ+-affirming affordable senior housing development in Western Pennsylvania.

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