FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   (Mark One)

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2002

                                       OR

                TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

             For the transition period from ________ to ___________

                        Commission file number: 333-76435


                 WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7


                              California 33-0761517

                (State or other jurisdiction of (I.R.S. Employer
               incorporation or organization) Identification No.)


                         3158 Redhill Avenue, Suite 120
                              Costa Mesa, CA 92626
                    (Address of principal executive offices)

                                 (714) 662-5565
                               (Telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
Yes           No      X
    ---------    -----------
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)


                               INDEX TO FORM 10-Q

                       For the Quarter Ended June 30, 2002



PART I. FINANCIAL INFORMATION


   Item 1. Financial Statements
       Balance Sheets
       June 30, 2002 and March 31, 2002 .......................................3

     Statements of Operations
       For the three months ended June 30, 2002 and 2001.......................4

     Statement of Partners' Equity (Deficit)
       For the three months ended June 30, 2002................................5

     Statements of Cash Flows
       For the three months ended June 30, 2002 and 2001.......................6

     Notes to Financial Statements.............................................7

   Item 2.  Management's Discussion and Analysis of Financial
       Condition and Results of Operations....................................14

   Item 3.  Quantitative and Qualitative Disclosures About Market Risks.......16


PART II. OTHER INFORMATION

   Item 1.  Legal Proceedings.................................................16

   Item 6.  Exhibits and Reports on Form 8-K..................................16

   Signatures ................................................................17

   Certification Pursuant To 18 U.S.C. Section 1350...........................18


                                        2
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                                 BALANCE SHEETS

<TABLE>
<CAPTION>


                                                                     June 30, 2002                 March 31, 2002
                                                                 -----------------------        ----------------------
                                                                      (unaudited)
                                                       ASSETS

<S>                                                           <C>                            <C>
Cash and cash equivalents                                     $               3,201,896      $              2,886,305
Funds held in escrow disbursement accounts                                            -                       591,512
Investments in limited partnerships (Note 3)                                 14,087,108                    13,125,199
Loans receivable (Note 2 and 8)                                                 960,808                       953,241
                                                                 -----------------------        ----------------------

                                                              $              18,249,812      $             17,556,257
                                                                 =======================        ======================


                                     LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities:
   Due to limited partnerships (Note 5)                       $               2,358,636      $              1,552,985
   Accrued fees and expenses due to General
      Partner and affiliates (Note 4)                                           137,975                       132,577
                                                                 -----------------------        ----------------------

Total liabilities                                                             2,496,611                     1,685,562
                                                                 -----------------------        ----------------------

Commitment and contingencies (Note 7)

Partners' equity (deficit):
   General Partner                                                               (2,248)                       (2,131)


   Limited Partners (25,000 units authorized and 18,850
      units issued and outstanding at
         June 30, and March 31, 2002)                                        15,755,449                    15,872,826
                                                                 -----------------------        ----------------------

Total partners' equity                                                       15,753,201                    15,870,695
                                                                 -----------------------        ----------------------

                                                              $              18,249,812      $             17,556,257
                                                                 =======================        ======================
</TABLE>


                 See accompanying notes to financial statements
                                        3
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF OPERATIONS

                For the Three Months Ended June 30, 2002 and 2001
                                   (unaudited)

<TABLE>
<CAPTION>

                                                              2002                           2001
                                                     ------------------------      --------------------------
                                                          Three months                   Three months
                                                     ------------------------      --------------------------

<S>                                                <C>                           <C>
Interest income                                    $                  12,512     $                   50,288
                                                     ------------------------      --------------------------

Operating expenses:
     Amortization (Note 3)                                            14,229                         14,229
     Asset management fees (Note 4)                                    8,998                         10,557
     Legal and accounting fees                                        10,859                          4,959
     Other                                                             3,815                          3,169
                                                     ------------------------      --------------------------

       Total operating expenses                                       37,901                         32,914
                                                     ------------------------      --------------------------

Income (loss) from operations                                        (25,389)                        17,374
                                                     ------------------------      --------------------------

Equity in losses of limited partnerships (Note 3)                    (92,105)                       (33,557)
                                                     ------------------------      --------------------------

Net loss                                           $                (117,494)    $                  (16,183)
                                                     ========================      ==========================

Net loss allocated to:
     General Partner                               $                    (117)    $                      (16)
                                                     ========================      ==========================

     Limited Partners                              $                (117,377)    $                  (16,167)
                                                     ========================      ==========================

Net loss per limited partnership unit              $                      (6)    $                       (1)
                                                     ========================      ==========================

Outstanding weighted average                                          18,850                         18,166
   limited partner units
                                                     ========================      ==========================

</TABLE>


                 See accompanying notes to financial statements
                                       4
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                     STATEMENT OF PARTNERS' EQUITY (DEFICIT)

                    For the Three Months Ended June 30, 2002
                                   (unaudited)

<TABLE>
<CAPTION>


                                                        General             Limited
                                                        Partner             Partners                Total
                                                    ----------------     ----------------     ------------------

<S>                                               <C>                  <C>                  <C>
Partners' equity (deficit) at March 31, 2002      $         (2,131)    $     15,872,826     $       15,870,695

Net loss                                                      (117)            (117,377)              (117,494)
                                                    ----------------     ----------------     ------------------

Partners' equity (deficit) at June 30, 2002       $         (2,248)          15,755,449             15,753,201
                                                    ================     ================     ==================
</TABLE>


                 See accompanying notes to financial statements
                                       5


<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF CASH FLOWS

                For the Three Months Ended June 30, 2002 and 2001
                                   (unaudited)
<TABLE>
<CAPTION>

                                                                      2002                     2001
                                                               -------------------      ---------------

Cash flows from operating activities:
<S>                                                         <C>                      <C>
   Net loss                                                 $           (117,494)    $        (16,183)
   Adjustments to reconcile net income to net cash
      provided by operating activities:
      Amortization                                                        14,229               14,229
      Equity in losses of limited partnerships                            92,105               33,557
      Accrued fees and expenses due to General
       Partner and affiliates                                              5,398               16,430
                                                               -------------------      ---------------

Net cash (used in) provided by operating activities                       (5,762)              48,033
                                                               -------------------      ---------------

Cash flows from investing activities:
   Investments in limited partnerships, net                           (1,068,243)          (3,254,309)
   Funds held in escrow disbursement account                             591,512            2,792,777
   Loans receivable                                                       (7,567)                   -
   Notes payable to limited partnerships                                 805,651                    -
                                                               -------------------      ---------------

Net cash provided by (used in) investing activities                      321,353             (461,532)
                                                               -------------------      ---------------

Cash flows from financing activities:
   Capital contributions                                                       -              153,500
   Offering expenses                                                           -               (7,140)
                                                               -------------------      ---------------

Net cash provided by financing activities                                      -              146,360
                                                               -------------------      ---------------

Net increase (decrease) in cash and cash equivalents                     315,591             (267,139)
                                                               -------------------      ---------------

Cash and cash equivalents, beginning of period                         2,886,305            5,103,916
                                                               -------------------      ---------------

Cash and cash equivalents, end of period                    $          3,201,896     $      4,836,777
                                                               ===================      ===============

SUPPLEMENTAL DISCLOSURE OF CASH
   FLOW INFORMATION
      Taxes paid                                            $                800     $            800
                                                               ===================      ===============
</TABLE>

                 See accompanying notes to financial statements
                                       6

<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                       For the Quarter Ended June 30, 2002
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

General
-------

The accompanying  condensed unaudited financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information and with the instructions to Form 10-Q
for quarterly  reports under Section 13 or 15(d) of the Securities  Exchange Act
of 1934.  Accordingly,  they do not include all of the information and footnotes
required by  accounting  principles  generally  accepted in the United States of
America for complete  financial  statements.  In the opinion of management,  all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair  presentation  have been included.  Operating  results for the three months
ended June 30, 2002 are not  necessarily  indicative  of the results that may be
expected  for the fiscal year ending March 31,  2003.  For further  information,
refer  to  the  financial  statements  and  footnotes  thereto  included  in the
Partnership's  annual  report on Form 10-K for the fiscal  year ended  March 31,
2002.

Organization
------------

WNC  Housing  Tax  Credit  Fund  VI,  L.P.,  Series  7,  (a  California  Limited
Partnership) (the  "Partnership")  was formed on June 16, 1997 under the laws of
the state of California.  The Partnership began operations on September 3, 1999,
the  effective  date of its public  offering  pursuant to Security  and Exchange
approval of the Partnership's  Pre-Effective  Amendment No. 3 to Form S-11 filed
with the  Securities and Exchange  Commission on July 16, 1999. The  Partnership
was formed to invest primarily in other limited partnerships (the "Local Limited
Partnerships")  which  own  and  operate  multi-family  housing  complexes  (the
"Housing  Complexes") that are eligible for low income housing tax credits.  The
local  general  partners  (the "Local  General  Partners") of each Local Limited
Partnership will retain  responsibility for maintaining,  operating and managing
the Housing Complex.

The general partner is WNC & Associates, Inc. ("WNC") (the "General Partner"), a
California limited partnership. The chairman and president own substantially all
of the  outstanding  stock of WNC. The business of the  Partnership is conducted
primarily through WNC, as the Partnership has no employees of its own.

The Partnership shall continue in full force and effect until December 31, 2060,
unless terminated prior to that date,  pursuant to the partnership  agreement or
law.

The financial  statements  include only activity relating to the business of the
Partnership,  and do not give  effect to any assets that the  partners  may have
outside of their interests in the Partnership, or to any obligations,  including
income taxes, of the partners.

The  Partnership  agreement  authorized the sale of up to 25,000 units at $1,000
per Unit ("Units"). As of June 30, 2002, 18,850 Units representing subscriptions
in the amount of $18,828,745  had been sold, net of volume  discounts of $45 and
$21,210 of dealer discounts,  had been accepted.  The General Partner has a 0.1%
interest  in  operating  profits  and losses,  taxable  income and losses,  cash
available  for  distribution  from  the  Partnership  and  tax  credits  of  the
Partnership. The limited partners will be allocated the remaining 99.9% of these
items in proportion to their respective investments.


                                       7
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

After the limited  partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 4) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the limited partners (in proportion to their
respective investments) and 10% to the General Partner.

Risks and Uncertainties
-----------------------

The Partnership's  investments in Local Limited  Partnerships are subject to the
risks incident to the management and ownership of low-income  housing and to the
management and ownership of multi-unit  residential  real estate.  Some of these
risks  are that the low  income  housing  credit  could be  recaptured  and that
neither the  Partnership's  investments  nor the Housing  Complexes owned by the
Local Limited Partnerships will be readily marketable. To the extent the Housing
Complexes  receive  government  financing  or operating  subsidies,  they may be
subject to one or more of the following risks: difficulties in obtaining tenants
for the Housing Complexes: difficulties in obtaining rent increases; limitations
on cash distributions; limitations on sales or refinancing of Housing Complexes;
limitations on transfers of Local Limited Partnership Interests:  limitations on
removal of Local General Partners; limitations on subsidy programs; and possible
changes in applicable regulations.  The Housing Complexes are or will be subject
to  mortgage  indebtedness.  If a Local  Limited  Partnership  does not make its
mortgage payments, the lender could foreclose resulting in a loss of the Housing
Complex  and  low-income  housing  credits.  As a limited  partner  of the Local
Limited Partnerships, the Partnership will have very limited rights with respect
to management of the Local  Limited  Partnerships,  and will rely totally on the
Local General  Partners of the Local Limited  Partnerships for management of the
Local Limited Partnerships.  The value of the Partnership's  investments will be
subject  to  changes  in  national  and  local  economic  conditions,  including
unemployment  conditions,  which could adversely  impact vacancy levels,  rental
payment  defaults and operating  expenses.  This, in turn,  could  substantially
increase  the  risk of  operating  losses  for  the  Housing  Complexes  and the
Partnership.  In addition,  each Local Limited  Partnership  is subject to risks
relating  to  environmental  hazards  and  natural  disasters,  which  might  be
uninsurable. Because the Partnership's operations will depend on these and other
factors  beyond  the  control  of the  General  Partner  and the  Local  General
Partners,  there can be no assurance  that the  anticipated  low income  housing
credits will be available to Limited Partners.

In addition  Limited  Partners are subject to risks in that the rules  governing
the low income  housing  credit are  complicated,  and the use of credits can be
limited.  The only  material  benefit from an investment in Units may be the low
income housing credits. There are limits in the transferability of Units, and it
is unlikely that a market for Units will develop.  All management decisions will
be made by the General Partner.

Method of Accounting for Investments in Limited Partnerships
------------------------------------------------------------

The Partnership  intends to account for its investments in limited  partnerships
using the equity method of accounting,  whereby the Partnership  will adjust its
investment balance for its share of the Local Limited  Partnership's  results of
operations and for any distributions  received.  The accounting  policies of the
Local  Limited  Partnerships  are  expected to be  consistent  with those of the
Partnership. Costs incurred by the Partnership in acquiring the investments will
be  capitalized  as part of the investment and amortized over 30 years (see Note
3).


                                       8

<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

Offering Expenses
-----------------

Offering  expenses are expected to consist of  underwriting  commissions,  legal
fees,  printing,  filing and  recordation  fees,  and other  costs  incurred  in
connection with the selling of limited partnership interests in the Partnership.
The General  Partner is obligated to pay all  offering  and  organization  costs
inclusive of selling commissions and dealer manager fees, in excess of 4% of the
total  offering  proceeds.  Offering  expenses  are  reflected as a reduction of
limited  partners'  capital and amounted to  $2,429,245  as of June 30, 2002 and
March 31, 2002.

Use of Estimates
----------------

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements,  and the  reported  amounts of revenues and expenses
during the reporting  period.  Actual results could materially differ from those
estimates.

Cash and Cash Equivalents
-------------------------

The  Partnership   considers  all  highly  liquid   investments  with  remaining
maturities of three months or less when purchased to be cash equivalents.  As of
June 30,  2002 and  March  31,  2002 the  Partnership  had cash  equivalents  of
$1,011,000 and $1,000,000,  respectively. These amounts consist primarily of tax
exempt  instruments  collateralized  by tax exempt  municipal bonds from various
municipalities  throughout the United  States.  These  instruments  generate tax
exempt yields and generally have 35 days or less maturities.

Concentration of Credit Risk
----------------------------

At June 30, 2002, the Partnership  maintained cash balances at certain financial
institutions in excess of the federally insured maximum.

Net Income Per Limited Partner Unit
-----------------------------------

Net income per limited  partnership unit is calculated  pursuant to Statement of
Financial  Accounting Standards No. 128, Earnings Per Share. Net income per unit
includes no dilution  and is computed by dividing  income  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net income per unit is not required.

Reporting Comprehensive Income
------------------------------

The  Statement of Financial  Accounting  Standards  ("SFAS") No. 130,  Reporting
Comprehensive  Income  established  standards  for the  reporting and display of
comprehensive  income (loss) and its components in a full set of general-purpose
financial statements. The Partnership had no items of other comprehensive income
for all the periods presented, as defined by SFAS No. 130.


                                       9
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

New Accounting Pronouncement
----------------------------

In October 2001, the FASB issued Statement of Financial Accounting Standards No.
144,  "Accounting  for the  Impairment or Disposal of Long-Lived  Assets" ("SFAS
144"), which addresses  accounting and financial reporting for the impairment or
disposal of long-lived assets.  SFAS 144 is effective for fiscal years beginning
after  December 15, 2001,  and generally,  is to be applied  prospectively.  The
Partnership  does  not  expect  SFAS  144  to  have  a  material  impact  on the
Partnership's financial position or results of operations

Reclassification
----------------

Certain  prior  period  balances  have  been  reclassified  to  conform  to  the
presentation for the three months ended June 30, 2002.

NOTE 2 - LOANS RECEIVABLE
-------------------------

Loans  receivable  represent  amounts loaned by the Partnership to certain Local
Limited  Partnerships  in which the  Partnership  may  invest.  These  loans are
generally applied against the first capital  contribution due if the Partnership
ultimately invests in such entities.  In the event that the Partnership does not
invest in such  entities,  the loans are to be repaid  with  interest at a rate,
which is equal  to the rate  charged  to the  holder.  At June 30,  2002,  loans
receivable of $329,000 were due from one Local Limited  Partnership in which the
Partnership had not acquired a limited  partnership  interest,  and $531,808 and
$100,000 had been advanced to two additional Local Limited Partnerships in which
the  Partnership  has an investment (See Note 7). On July 25, 2002, the $329,000
loan was repaid to the Partnership.

NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS
--------------------------------------------

As of June 30, 2002 and March 31, 2002,  the  Partnership  has acquired  limited
partnership interests in thirteen Local Limited Partnerships, each of which owns
one Housing  Complex  consisting  of an aggregate of 452  apartment  units.  The
respective  general  partners  of the  Local  Limited  Partnerships  manage  the
day-to-day  operations of the entities.  Significant  Local Limited  Partnership
business decisions require approval from the Partnership.  The Partnership, as a
limited  partner,  is  generally  entitled to 99.98%,  as specified in the Local
Limited  Partnership  agreements,  of the operating profits and losses,  taxable
income and losses and tax credits of the Local Limited Partnerships.

As of August 28,  2002,  the  Partnership  had not  obtained  audited  financial
statements for one of its  investments,  Lake Village  Apartments,  L.P.  ("Lake
Village  Apartments"),  as of and for the period ended  December 31, 2001.  As a
result,  the  Partnership  has not included the  financial  information  of Lake
Village Apartments in the combined condensed  statements of operations presented
herein.  The  Partnership's   investment  in  Lake  Village  Apartments  totaled
$3,833,980  (unaudited)  at June 30,  2002.  The  Partnership's  interest in the
results of operations of Lake Village  Apartments totaled $0 (unaudited) for the
periods  ended  June 30,  2002 and 2001.  The Lake  Village  Apartments  Housing
Complex  completed its construction on June 21, 2002; as a result,  no equity in
losses have been recorded.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

                                       10
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)


NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

Distributions  received by limited  partners are accounted for as a reduction of
the investment balance.  Distributions received after the investment has reached
zero are  recognized as income.  As of June 30, 2002, no investment  accounts in
Local Limited Partnerships had reached a zero balance.

Following  is a summary of the equity  method  activity  of the  investments  in
limited partnerships for the periods presented:

<TABLE>
<CAPTION>
                                                               For the Three Months
                                                                      Ended                 For the Year Ended
                                                                  June 30, 2002               March 31, 2002
                                                              -----------------------   ----------------------------

<S>                                                         <C>                       <C>
  Investment in limited partnerships, beginning of period   $            13,125,199   $                  9,482,570
  Capital contributions paid, net                                           262,592                      4,013,757
  Capital contributions payable                                             805,651                        310,954
  Equity in losses of limited partnerships                                  (92,105)                      (622,249)
  Amortization of capitalized acquisition fees and costs                    (14,229)                       (56,916)
  Tax credit adjustment                                                           -                         (2,917)
                                                              -----------------------   ----------------------------

  Investment in limited partnerships, end of period         $            14,087,108   $                 13,125,199
                                                              =======================   ============================
</TABLE>

Selected financial information for the three months ended June 30, 2002 and 2001
from the  unaudited  combined  condensed  financial  statements  of the  limited
partnerships in which the Partnership has invested as follows:

                     COMBINED CONDENSED STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>

                                                                       2002                   2001
                                                                 -------------------    ------------------

<S>                                                            <C>                    <C>
         Revenue                                               $           435,000    $          371,000
                                                                 -------------------    ------------------

         Expenses:
           Interest expense                                                166,000               177,000
           Depreciation                                                    127,000                52,000
           Operating expenses                                              234,000               175,000
                                                                 -------------------    ------------------
             Total expenses                                                527,000               404,000
                                                                 -------------------
                                                                                        ------------------
         Net loss                                              $           (92,000)   $          (33,000)
                                                                 ===================    ==================
         Net loss allocable to the
              Partnership                                      $           (92,000)   $          (33,000)
                                                                 ===================    ==================
         Net loss recorded by the
              Partnership                                      $           (92,000)   $          (33,000)
                                                                 ===================    ==================

</TABLE>
                                       11
<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)
NOTE 4 - RELATED PARTY TRANSACTIONS
-----------------------------------

The Partnership has no officers,  employees,  or directors.  However,  under the
terms of the  Partnership  Agreement the Partnership is obligated to the General
Partner or its affiliates for the following fees:

(a)  Acquisition  fees of 7% of the  gross  proceeds  from  the sale of Units as
     compensation  for services  rendered in connection  with the acquisition of
     Local  Limited  Partnerships.  As of June 30, 2002 and March 31, 2002,  the
     Partnership   incurred   acquisition   fees  of   $1,319,500.   Accumulated
     amortization of these capitalized costs were $89,866 and $78,869 as of June
     30, 2002 and March 31, 2002, respectively.

(b)  Acquisition  costs of 2% of the gross  proceeds  from the sales of Units as
     full  reimbursement  of costs incurred by the General Partner in connection
     with the acquisition of Local Limited Partnerships. As of June 30, 2002 and
     March 31, 2002, the  Partnership  incurred  acquisition  costs of $377,000.
     Accumulated  amortization  were $26,294 and $23,062 as of June 30, 2002 and
     March 31, 2002, respectively.

(c)  An annual asset  management  fee not to exceed 0.2% of the invested  assets
     (defined as the Partnership's  capital  contributions  plus reserves of the
     Partnership of up to 5% of gross proceeds plus its allocable  percentage of
     the mortgage debt  encumbering the housing  complexes) of the Local Limited
     Partnerships.  Management  fees of $8,998 and $39,703 were incurred  during
     the three  months  ended June 30, 2002 and the year ended  March 31,  2002,
     respectively.

(d)  A subordinated  disposition fee in an amount equal to 1% of the sales price
     of real estate  sold.  Payment of this fee is  subordinated  to the limited
     partners  receiving a return on investment  (as defined in the  Partnership
     Agreement)  and is payable  only if the General  Partner or its  affiliates
     render services in the sales effort.

The accrued fees and expenses due to the General Partner and affiliates  consist
of the following at:
<TABLE>
<CAPTION>

                                                                      June 30, 2002         March 31, 2002
                                                                  ----------------------   ------------------
<S>                                                             <C>                      <C>
         Interest payable to Local Limited Partnerships         $                86,666  $            86,602
         Organizational, offering and selling costs payable                       2,590                2,590
         Asset management fee payable                                            35,916               41,918
         Reimbursement for expenses paid by
           the General Partner or an affiliate                                   12,803                1,467
                                                                  ----------------------   ------------------

                                                                $               137,975  $           132,577
                                                                  ======================   ==================
</TABLE>

The General  Partners do not anticipate that the accrued fees will be paid until
such time as  capital  reserves  are in excess  of  future  foreseeable  working
capital requirements.

NOTE 5 - PAYABLES TO LIMITED PARTNERSHIPS
-----------------------------------------

Payables  to limited  partnerships  represent  amounts  which are due at various
times  based on  conditions  specified  in the  respective  limited  partnership
agreements.  These  contributions  are payable in installments and are generally
due upon the limited  partnerships  achieving certain  development and operating
benchmarks (generally within two years of the Partnership's initial investment).

                                       12

<PAGE>
                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                       For the Quarter Ended June 30, 2002
                                   (unaudited)
NOTE 6 - INCOME TAXES
---------------------

No provision for income taxes has been recorded in the financial statements,  as
any  liability  for  income  taxes  is the  obligation  of the  partners  of the
Partnership.

NOTE 7 - COMMITMENTS AND CONTINGENCIES
--------------------------------------

During  the  year  ended  March  31,  2002,  WNC,  the  General  Partner  of the
Partnership  was  advised  that  Lake  Village   Apartments,   a  local  limited
partnership,  was in default of covenants  relating to certain loans advanced to
it for the construction of apartments. The defaults were primarily caused by the
general  contractor  failing to complete  the  construction  of the  development
according to the terms of the loans.  As a result of the foregoing,  at June 30,
2002, Lake Village  Apartments and a WNC affiliate  executed a workout agreement
with their lender (the "Agreement"), whereby the General Partner of Lake Village
Apartments was replaced by the  aforementioned  WNC  affiliate.  Pursuant to the
terms of the Agreement, the new general partner would cause additional equity to
be contributed to the local limited partnership,  a new general contractor would
complete the construction of the development,  and the lender, upon satisfaction
of certain  conditions of the Agreement as defined,  would  continue to fund the
completion of the construction,  among other costs. In addition, pursuant to the
Agreement,  the Partnership Agreement was amended, and the Partnership committed
to additional  capital  contributions  of $855,628,  of which  $531,808 had been
advanced by June 30, 2002.  Subsequent to June 30, 2002, a further  $387,877 was
disbursed by the  Partnership to an escrow  account for Lake Village  Apartments
under terms of the Agreement.

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, has a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan  due in  March  2002  was  not  repaid.  Consequently,  the  Local  Limited
Partnership is in default of its loan covenants and the Housing Complex could be
foreclosed on by the bank.  Southern  Hills is attempting to refinance the loan.
The bank has issued a term sheet  upon which a new loan will be  granted,  which
contemplates  a substantial  reduction in principal.  There can be no assurances
that  Southern  Hills  will  be  successful  in its  negotiations.  Accordingly,
Southern  Hills is subject to the risk of  foreclosure  and sale of the  Housing
Complex by the lender, which would result in the loss and potential recapture of
certain tax losses and the tax credits. As a result,  there is an uncertainty as
to the  Partnership's  ability to ultimately  realize the carrying  value of its
investment in Southern Hills, which totaled  $1,185,000  (unaudited) at June 30,
2002. The accompanying  financial statements do not reflect any adjustments that
may  result  from any  unfavorable  outcome  that may  occur  upon the  ultimate
resolution of this uncertainty.

NOTE 8 - SUBSEQUENT EVENT
-------------------------

At June 30, 2002,  loans  receivable of $329,000 were due from one Local Limited
Partnership  in which the  Partnership  had not  acquired a limited  partnership
interest. On July 25, 2002, the $329,000 loan was repaid to the Partnership.

                                       13
<PAGE>

Item 2. Management's  Discussion and Analysis of Financial Condition and Results
         of Operations

Forward Looking Statements
--------------------------

With  the  exception  of  the  discussion  regarding   historical   information,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  and other  discussions  elsewhere in this Form 10-Q contain forward
looking statements. Such statements are based on current expectations subject to
uncertainties and other factors,  which may involve known and unknown risks that
could  cause  actual  results  of  operations  to differ  materially  from those
projected or implied. Further, certain forward-looking statements are based upon
assumptions about future events, which may not prove to be accurate.

Risks and uncertainties  inherent in forward looking statements include, but are
not  limited  to,  our  future  cash  flows and  ability  to  obtain  sufficient
financing, level of operating expenses, conditions in the low income housing tax
credit property market and the economy in general, as well as legal proceedings.
Historical  results are not necessarily  indicative of the operating results for
any future period.

Subsequent  written and oral forward  looking  statements  attributable to us or
persons  acting on our behalf  are  expressly  qualified  in their  entirety  by
cautionary  statements  in this Form 10-Q and in other reports we filed with the
Securities and Exchange  Commission.  The following discussion should be read in
conjunction  with the  Consolidated  Financial  Statements and the Notes thereto
included elsewhere in this filing.

The following discussion and analysis compares the results of operations for the
fiscal  quarter ended June 30, 2002 and 2001,  and should be read in conjunction
with the condensed  consolidated  financial  statements and  accompanying  notes
included within this report.

Financial Condition
-------------------

The Partnership's  assets at June 30, 2002 consisted  primarily of $3,202,000 in
cash,  aggregate  investments  in the thirteen  Local  Limited  Partnerships  of
$14,087,000  and  $961,000  in loans  receivable.  Liabilities  at June 30, 2002
primarily  consisted  of  $2,359,000  due to  limited  partnerships,  $51,000 of
accrued asset management fees,  commissions  payable,  and reimbursements due to
the General Partner or affiliates and $87,000 in interest payable.

Results of Operations
---------------------

Three Months  Ended June 30, 2002  Compared to Three Months Ended June 30, 2001.
The  Partnership's  net loss  for the  three  months  ended  June  30,  2002 was
$(117,000),  reflecting an increase in loss of $(101,000) from the $(16,000) net
loss for the three  months  ended June 30,  2001.  The  increase in net loss was
primarily  due to an  increase of  approximately  $59,000 in equity in losses of
limited  partnerships,  which  increased to $(92,000) for the three month period
ended June 30, 2002 from  $(33,000)  for the three month  period  ended June 30,
2001. In addition, a decrease in income from operations of $(42,000) from income
of $17,000 to a loss of  $(25,000)  for the three months ended June 30, 2001 and
2002,  respectively.  The decrease in income from operations is caused primarily
by the decrease of $(37,000) in interest income, from $50,000 to $13,000 for the
three months ended June 30, 2001 compared to 2002, respectively, and an increase
in accounting fees of $5,000 for the three months ended June 30, 2002.


                                       14
<PAGE>


 Cash Flows
 ----------

Three Months  Ended June 30, 2002  Compared to Three Months Ended June 30, 2001.
Net increase in cash during the three  months ended June 30, 2002 was  $316,000,
compared to a net  decrease in cash for the three  months ended June 30, 2001 of
$(267,000) reflecting an increase of $583,000. The increase in net cash provided
is  primarily  due to an  increase of  $783,000  in cash  provided by  investing
activities,   due  to  additional   capital   contributions   to  Local  Limited
Partnerships.  The increase in cash provided by investing  activities was offset
by a decrease of $(146,000) in net cash used in financing activities, due to the
completion  of  syndication  process,  and a decrease in cash used in  operating
activities by $(54,000) to $(6,000)  during the three months ended June 30, 2002
from $48,000 for the three months ended June 30, 2001.

The Partnership  expects its future cash flows,  together with its net available
assets at June 30, 2002,  to be  sufficient  to meet all  currently  foreseeable
future cash requirements.

Other Matters
-------------

During  the  year  ended  March  31,  2002,  WNC,  the  General  Partner  of the
Partnership  was  advised  that  Lake  Village   Apartments,   a  local  limited
partnership,  was in default of covenants  relating to certain loans advanced to
it for the construction of apartments. The defaults were primarily caused by the
general  contractor  failing to complete  the  construction  of the  development
according to the terms of the loans.  As a result of the foregoing,  at June 30,
2002, Lake Village  Apartments and a WNC affiliate  executed a workout agreement
with their lender (the "Agreement"), whereby the General Partner of Lake Village
Apartments was replaced by the  aforementioned  WNC  affiliate.  Pursuant to the
terms of the Agreement, the new general partner would cause additional equity to
be contributed to the local limited partnership,  a new general contractor would
complete the construction of the development,  and the lender, upon satisfaction
of certain  conditions of the Agreement as defined,  would  continue to fund the
completion of the construction,  among other costs. In addition, pursuant to the
Agreement,  the Partnership Agreement was amended, and the Partnership committed
to additional  capital  contributions  of $855,628,  of which  $531,808 had been
advanced by June 30, 2002.  Subsequent to June 30, 2002, a further  $387,877 was
disbursed by the  Partnership to an escrow  account for Lake Village  Apartments
under terms of the Agreement.

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, has a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan  due in  March  2002  was  not  repaid.  Consequently,  the  Local  Limited
Partnership is in default of its loan covenants and the Housing Complex could be
foreclosed on by the bank.  Southern  Hills is attempting to refinance the loan.
The bank has issued a term sheet  upon which a new loan will be  granted,  which
contemplates  a substantial  reduction in principal.  There can be no assurances
that  Southern  Hills  will  be  successful  in its  negotiations.  Accordingly,
Southern  Hills is subject to the risk of  foreclosure  and sale of the  Housing
Complex by the lender, which would result in the loss and potential recapture of
certain tax losses and the tax credits. As a result,  there is an uncertainty as
to the  Partnership's  ability to ultimately  realize the carrying  value of its
investment in Southern Hills, which totaled  $1,185,000  (unaudited) at June 30,
2002.  The financial  statements  included  elsewhere  herein do not reflect any
adjustments that may result from any unfavorable outcome that may occur upon the
ultimate resolution of this uncertainty.

Certain Local Limited  Partnerships have incurred  significant  operating losses
and  have  working  capital  deficiencies.  In the  event  these  Local  Limited
Partnerships continue to incur significant operating losses,  additional capital
contributions  by the  Partnership  and/or  the  Local  General  Partner  may be
required  to sustain  the  operations  of such Local  Limited  Partnerships.  If
additional  capital  contributions  are not made  when  they are  required,  the
Partnership's  investment in certain of such Local Limited Partnerships could be
impaired, and the loss and recapture of the related tax credits could occur.

New Accounting Pronouncement
----------------------------

In October 2001, the FASB issued Statement of Financial Accounting Standards No.
144,  "Accounting  for the  Impairment or Disposal of Long-Lived  Assets" ("SFAS
144"), which addresses  accounting and financial reporting for the impairment or
disposal of long-lived assets.  SFAS 144 is effective for fiscal years beginning
after  December 15, 2001,  and generally,  is to be applied  prospectively.  The
Partnership  does  not  expect  SFAS  144  to  have  a  material  impact  on the
Partnership's financial position or results of operations

                                       15
<PAGE>


Item 3: Quantitative and Qualitative Disclosures Above Market Risks

         NOT APPLICABLE


Part II.  Other Information

Item 1.  Legal Proceedings

         NONE

Item 6.  Exhibits and Reports on Form 8-K

         NONE.


                                       16
<PAGE>


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7
----------------------------------------------
(Registrant)

By:   WNC & Associates, Inc., General Partner of the Registrants




By:   /s/ Wilfred N. Cooper, Jr.
       -------------------------
Wilfred N. Cooper, Jr.
President and Chief Operating Officer of WNC & Associates, Inc.

Date:  August 28, 2002




By:  /s/ Thomas J. Riha
     ------------------
Thomas J. Riha
Vice President and Chief Financial Officer of WNC & Associates, Inc.

Date:  August 28, 2002


                                       17
<PAGE>


                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection  with the Quarterly  Report on Form 10-Q of WNC Housing Tax Credit
VI,  L.P.,  Series 7 (the  "Partnership")  for the period ended June 30, 2002 as
filed with the  Securities  and  Exchange  Commission  on the date  hereof  (the
"Report"),  and  pursuant to 18 U.S.C.,  section  1350,  as adopted  pursuant to
section  906 of the  Sarbanes-Oxley  Act of 2002,  I,  Wilfred N.  Cooper,  Sr.,
Chairman and Chief Executive Officer of WNC & Associates,  Inc., general partner
[of the general partner] of the Partnership, hereby certify that:

1.   The Report fully complies with the  requirements  of section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information  contained in the Report fairly  presents,  in all material
     respects,   the  financial  condition  and  result  of  operations  of  the
     Partnership.




/s/WILFRED N. COOPER, SR.
-------------------------
Wilfred N. Cooper, Sr.
Chairman and Chief Executive Officer of WNC & Associates, Inc.
August 28, 2002




                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection  with the Quarterly  Report on Form 10-Q of WNC Housing Tax Credit
VI,  L.P.,  Series 7 (the  "Partnership")  for the period ended June 30, 2002 as
filed with the  Securities  and  Exchange  Commission  on the date  hereof  (the
"Report"),  and  pursuant to 18 U.S.C.,  section  1350,  as adopted  pursuant to
section  906 of the  Sarbanes-Oxley  Act of  2002,  I,  Thomas  J.  Riha,  Chief
Financial  Officer of WNC & Associates,  Inc.,  general  partner [of the general
partner] of the Partnership, hereby certify that:

1.   The Report fully complies with the  requirements  of section 13(a) or 15(d)
     of the Securities Exchange Act of 1934; and

2.   The information  contained in the Report fairly  presents,  in all material
     respects,   the  financial  condition  and  result  of  operations  of  the
     Partnership.




/s/THOMAS J. RIHA
-----------------
Thomas J. Riha
Chief Financial Officer of WNC & Associates, Inc.
August 28, 2002


                                       18