Making Affording Housing Possible: NHSC Loan Fund Provides for Housing Ministry

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MARJORIE WANTED TO LIVE NEAR HER SON, LONNIE, and his wife, Helen, but relocating from New York to St. Louis is an expensive proposition. As a health care worker and first generation immigrant she was never able to put aside money for a down payment, so homeownership seemed out of reach.

Then Lonnie met Cyril Loum, director of Caring Ministries, Inc. (CMI) at a neighborhood New Year’s Eve party last year and learned about CMI’s affordable homeownership opportunities, a program made possible by a Line of Credit from the LCMS National Housing Support Corporation’s (NHSC) Loan Fund. Marjorie’s new home is located in a community just north of St. Louis and is the third home financed by this line of credit provided through NHSC. Lonnie and Helen’s new home purchase, will be just five minutes away from her mother’s home, and will be the fourth.

CMI’s Line of Credit is the first of four loans approved and closed, bringing the total capital provided through the NHSC Loan Fund to $449,500. For that matter, buying and renovating homes is just one of several qualifying purposes for which loans have been made.

  • Great Commission Lutheran Church received a loan to help fund “pre-development” costs such as engineering and design as it works with NHSC and other development partners on its plans to purchase and renovate a long-abandoned St. Louis Public School building.
  • The St. Peter/Zion Project in Ft. Wayne, Indiana, continues to work on a project to redevelop a piece of property in their neighborhood and required additional capital for acquisition and demolition costs.
  • The Lutheran Development Group in St. Louis, Missouri, wants to acquire and rehabilitate homes in the area near Holy Trinity Lutheran Church and required working capital for their latest project.

NHSC is seeking additional loan partners. Eligible projects include affordable rental or for sale housing development, and eligible borrowers include a LCMS-related entity or a nonprofit or for-profit entity that partners with a LCMS-related entity. LCMS-related entities include: LCMS congregations, Recognized Service Organizations, and LCMS Districts.

Questions? Please contact Fred Kimbrough, NHSC’s Director of Projects and Lending, fred.kimbrough@lcms.org or (314) 996-1647.


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