An $8 million tax credit allocation and a new federal lending designation give Acts Homes additional tools to expand affordable homeownership across Milwaukee and Rock counties.
For many families, the path to homeownership is blocked by two connected challenges: finding an affordable home and securing the financing to purchase it. Acts Housing is strengthening both sides of that equation through a major New Markets Tax Credit investment and a new federal designation for its lending division.
Forward Community Investments (FCI) has provided an $8 million New Markets Tax Credit (NMTC) allocation to Acts Homeownership Acquisitions, Inc., known as Acts Homes. The funding will support the acquisition and rehabilitation of 42 properties in distressed neighborhoods in Milwaukee and Rock counties, creating more affordable homeownership opportunities for families with low to moderate incomes.
Turning Properties into Affordable Homes
Acts Homes was established in 2023 as an affiliate of Acts Housing to increase the inventory of affordable homes in Milwaukee and Beloit. The organization purchases property portfolios from investors, acquires homes through off-market sales and obtains tax-foreclosed properties. It then rehabilitates the homes so they are safe, code-compliant and ready for owner-occupants.
The project includes 38 properties in Milwaukee, three in Beloit and one in West Allis. All 42 are located in qualified census tracts, including 23 in deeply distressed areas and 19 in severely distressed areas (distress levels defined by NMTC program guidance). These neighborhoods are experiencing poverty rates as high as 63.30%, area median incomes as low as 23.17% and unemployment rates as much as 3.24 times the national average.
Once rehabilitated, the properties will be offered at affordable prices to buyers earning at or below 80% of area median income. Each home must be purchased by an owner-occupant and remain owner-occupied throughout its lifetime, even if it is later sold. This requirement is designed to preserve the homes for long-term ownership rather than allowing them to return to permanent rental portfolios.
Preparing Buyers for Sustainable Homeownership
Acts Housing pairs this growing supply of homes with HUD-certified homebuyer education and individual coaching. Families begin with an online orientation and then work with a coach toward mortgage preapproval. Some participants may be ready within a few months, while others need more time to improve credit, reduce debt or build savings.
The organization also works with loan officers who refer preapproved families for coaching and potential down payment assistance. Homes included in the NMTC-supported project will be limited to graduates of Acts Housing’s program or another HUD-certified homebuyer education program, helping ensure that buyers are prepared for the financial and practical responsibilities of ownership.
A New Federal Tool for Acts Lending
Alongside the NMTC investment, the U.S. Department of the Treasury has certified Acts Lending as a Community Development Financial Institution (CDFI). The designation is awarded to mission-driven institutions that provide financial services in low-income communities historically underserved by traditional lenders. Acts Lending is now the 21st certified CDFI in Wisconsin and the only one with a Rock County location.
Since it was established in 2013, Acts Lending has helped more than 300 families in Milwaukee and Rock counties purchase homes. The division can provide qualifying buyers with up to $200,000 to purchase and rehabilitate distressed or tax-foreclosed properties or to buy move-in-ready homes.
The need for this financing continues to grow. Acts Lending’s average loan increased from $51,000 in 2020 to $125,000 in 2026. In 2025, the division made $4.4 million in loans, with 80 families preapproved and 37 purchasing homes. CDFI certification makes Acts Lending eligible to apply for federal funding that can support its goal of helping at least 1,000 additional families become homeowners over the next decade.
Building a More Complete Homeownership System
Together, the two developments address connected parts of the housing challenge. FCI’s $8 million allocation helps Acts Homes acquire and rehabilitate more properties. The CDFI designation can help Acts Lending expand access to responsible financing. Acts Housing’s education and coaching programs prepare families to use those opportunities successfully.
Since Acts Housing was founded in Milwaukee in 1995, more than 4,500 families have purchased homes through the organization, and 70% still own their original home. By connecting affordable inventory, buyer preparation and accessible financing, Acts Housing is positioned to extend that record of sustainable homeownership to more families across Milwaukee and Rock counties.
Sources: Milwaukee Business Journal; BizTimes Milwaukee