Radian issues $1 million line of credit to support affordable housing in Philadelphia

Radian Guaranty has issued a line of credit of up to $1 million to the Philadelphia Accelerator Fund (PAF), a nonprofit loan fund focused on affordable housing and community development in Philadelphia. The fund, established in 2019, aims to support low-income communities by increasing access to capital, particularly for historically disadvantaged groups.

PAF’s work is backed by private capital and a loan loss reserve supported by the City of Philadelphia and the Philadelphia Redevelopment Authority. From 2023 to 2024, PAF financed nine projects totaling over $6.3 million, enabling nearly $56 million in development and resulting in 163 new housing units—129 of which are deed-restricted for households earning 80% or less of the Area Median Income.

The line of credit reflects Radian’s broader efforts to support affordable and sustainable housing. Radian has recently partnered with Nueva Esperanza to help secure over $2 million in federal funding for housing initiatives in Philadelphia and provided a $100,000 grant to Rebuilding Together Philadelphia to improve existing homes. Radian Group is also a founding partner of CONVERGENCE Philadelphia, a program aimed at expanding homeownership access for underserved communities.