Acts Housing has reached two significant funding milestones that leaders say will strengthen its efforts to expand its homeownership opportunities in Milwaukee and Rock County.
The Milwaukee nonprofit recently announced that its lending arm, Acts Lending, has been certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury.
Separately, the organization secured an $8 million New Markets Tax Credit (NMTC) allocation that will support its Acts Homes rehabilitation program.
The two developments provide new funding opportunities for Acts Housing, which was founded in the early 1990s and has become a key player in rebuilding homeownership in Milwaukee, particularly in Black and Latino neighborhoods still recovering from the fallout of the Great Recession, when foreclosures drove homeownership rates sharply lower. In 2023, Acts Housing launched the Acts Homes initiative, which is focused on acquiring and renovating homes to sell directly to homebuyers.
“Given that both of these projects were sort of on the long-term wish list for Acts, but were things that, in prior periods, we didn’t think that we were quite ready for, it feels like we’ve grown up,” said Acts Housing president and CEO Michael Gosman. “We’ve spent years increasing access to homeownership through coaching, then lending, and now through Acts Homes. These two new tools mean we’re really just getting started in terms of the reach we can have.”
The Treasury designation makes Acts Lending one of just 21 certified CDFIs in Wisconsin and the only one with a Rock County location.
CDFIs are mission-driven financial institutions that specialize in serving low-income and historically underserved communities. Certification allows organizations to compete for grants and other funding through the Treasury’s CDFI Fund.
For Acts Housing, the designation comes as demand for financing has grown substantially. Since launching Acts Lending in 2013, the nonprofit has financed home purchases for more than 300 families in Milwaukee and Rock County. The program offers loans of up to $200,000 to help buyers purchase and rehabilitate distressed or tax-foreclosed homes, as well as move-in-ready properties.
Loan sizes have increased dramatically as housing costs have risen. According to Acts Housing, the average loan grew from about $51,000 in 2020 to $125,000 this year.
“There is a huge need for loan dollars to assist local families in securing mortgages for safe and affordable housing,” Gosman said. “CDFI funding will support our goal to help at least 1,000 more families become homeowners during the next 10 years.”
Acts Lending originated $4.4 million in loans in 2025. The nonprofit expects to apply for federal CDFI funding during the next grant cycle in spring 2027.
The organization also recently secured its first-ever New Markets Tax Credit financing, a complex federal program designed to attract private investment into economically distressed communities.
Working with Forward Community Investments, U.S. Bank and consultant Smith NMTC, Acts Housing received an $8 million NMTC allocation.
The financing will support the acquisition and rehabilitation of 42 homes that will be sold to owner-occupants. That’s nearly half of the 89 homes Acts Homes hopes to convert to owner occupancy this year.
Gosman said proceeds from the home sales will recycle back into the organization.
Michael Gosman
“Once we deploy those funds and sell the homes, the revenue comes back to us as permanent equity for Acts Homes,” he said. “It means on an annual basis we’ve got an extra million-plus dollars that we can use for purchasing and rehabbing homes, which lets us help many more families every year.”
Although the tax credit project includes properties in both Milwaukee and Rock County, where Acts Housing recently expanded, Gosman said the overwhelming majority are located in Milwaukee.
The tax credit award marks the first time any Acts Housing entity has accessed federal tax credits.
Founded in 1995, Acts Housing has helped more than 4,500 families purchase homes, with roughly 70% still owning their original home. In addition to lending, the nonprofit provides homebuyer education, financial coaching, real estate services and rehabilitation guidance. The nonprofit completed a $26 million capital campaign earlier this year.
“We’re already helping more than 300 families become homeowners every year,” Gosman said. “These two new tools—the expansion of our lending and the expansion of our Acts Homes entity—mean we’re going to be able to reach many more families who right now feel like homeownership is out of reach.”
