FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

(Mark One)

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

                For the quarterly period ended September 30, 2003

                                       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.)

                              17782 Sky Park Circle
                              Irvine, CA 92614-6404
                    (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
    ---------    -----------

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in rule 12b-2 of the Exchange Act).

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 September 30, 2003




PART I. FINANCIAL INFORMATION

   Item 1. Financial Statements

           Balance Sheets
            September 30, 2003 and March 31, 2003 .............................3

           Statements of Operations
            For the Three and Six Months Ended September 30, 2003 and 2002.....4

           Statement of Partners' Equity (Deficit)
            For the Six Months Ended September 30, 2003........................5

           Statements of Cash Flows
            For the Six Months Ended September 30, 2003 and 2002...............6

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

   Item 2. Management's Discussion and Analysis of Financial
            Condition and Results of Operations...............................15

   Item 3. Quantitative and Qualitative Disclosures about Market Risk.........17

   Item 4. Controls and Procedures............................................17

PART II. OTHER INFORMATION

   Item 6. Exhibits and Reports on Form 8-K...................................17

   Signatures ................................................................18



                                       2
<PAGE>


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

                                 BALANCE SHEETS


<TABLE>
<CAPTION>

                                                                   September 30, 2003              March 31, 2003
                                                                 -----------------------        ----------------------
                                                                      (unaudited)
<S>                                                           <C>                            <C>
ASSETS

Cash and cash equivalents                                     $               1,490,129      $              2,246,731
Investments in limited partnerships (Note 3)                                 13,183,604                    13,010,788
Loans receivable (Note 2)                                                        85,288                       212,019
                                                                 -----------------------        ----------------------

                                                              $              14,759,021      $             15,469,538
                                                                 =======================        ======================

LIABILITIES AND PARTNERS' EQUITY (DEFICIT)

Liabilities:
   Payables to limited partnerships (Note 5)                  $                 329,532      $                336,428
   Accrued fees and expenses due to General
      Partner and affiliates (Note 4)                                            74,968                       277,080
                                                                 -----------------------        ----------------------

Total liabilities                                                               404,500                       613,508
                                                                 -----------------------        ----------------------

Commitment and contingencies (Note 6)

Partners' equity (deficit):
   General Partner                                                               (3,648)                       (3,146)
   Limited Partners (25,000 units authorized and 18,850
      units issued and outstanding at
      September 30, and March 31, 2003)                                      14,358,169                    14,859,176
                                                                 -----------------------        ----------------------

Total partners' equity                                                       14,354,521                    14,856,030
                                                                 -----------------------        ----------------------

                                                              $              14,759,021      $             15,469,538
                                                                 =======================        ======================
</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 and Six Months Ended September 30, 2003 and 2002
                                   (unaudited)
<TABLE>
<CAPTION>


                                                           2003                                        2002
                                          ----------------------------------------    -------------------------------------
                                            Three Months            Six Months         Three Months           Six Months
                                          -----------------      -----------------    ----------------       --------------

<S>                                     <C>                    <C>                  <C>                    <C>
Reporting fee                           $          11,787      $          11,787    $              -       $            -
Interest income                                     4,534                 11,141              26,289               38,801
                                          -----------------      -----------------    ----------------       --------------
                                                   16,321                 22,928              26,289               38,801
Operating expenses:
     Amortization (Note 3)                         14,229                 28,458              14,229               28,458
     Asset management fees (Note 4)                14,614                 28,904               8,998               17,996
     Legal and accounting fees                     14,950                 18,520               7,542               18,401
     Other                                          1,673                  3,830               5,918                9,733
                                          -----------------      -----------------    ----------------       --------------

       Total operating expenses                    45,466                 79,712              36,687               74,588
                                          -----------------      -----------------    ----------------       --------------

Income (loss) from operations                     (29,145)               (56,784)            (10,398)             (35,787)
                                          -----------------      -----------------    ----------------       --------------

Equity in losses of limited
partnerships (Note 3)                            (222,363)              (444,725)           (119,392)            (211,497)
                                          -----------------      -----------------    ----------------       --------------

Net loss                                $        (251,508)     $        (501,509)   $       (129,790)      $     (247,284)
                                          =================      =================    ================       ==============

Net loss allocated to:
     General Partner                    $            (252)     $            (502)   $           (130)      $         (247)
                                          =================      =================    ================       ==============

     Limited Partners                   $        (251,256)     $        (501,007)   $       (129,660)      $     (247,037)
                                          =================      =================    ================       ==============

Net loss per limited partnership unit   $             (13)     $             (27)   $             (7)      $          (13)
                                          =================      =================    ================       ==============

Outstanding weighted average
   limited partner units                           18,850                 18,850              18,850               18,850
                                          =================      =================    ================       ==============
</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 Six Months Ended September 30, 2003
                                   (unaudited)
<TABLE>
<CAPTION>



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

<S>                                               <C>                <C>                     <C>
Partners' equity (deficit) at March 31, 2003      $          (3,146) $        14,859,176     $       14,856,030

Net loss                                                       (502)            (501,007)              (501,509)
                                                    ----------------     ----------------     ------------------

Partners' equity (deficit) at September 30, 2003  $          (3,648) $        14,358,169     $       14,354,521
                                                    ================     ================     ==================
</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 Six Months Ended September 30, 2003 and 2002
                                   (unaudited)
<TABLE>
<CAPTION>
                                                                       2003                      2002
                                                                 ------------------       --------------------
<S>                                                           <C>                      <C>
   Cash flows from operating activities:
      Net loss                                                $            (501,509)   $            (247,284)
      Adjustments to reconcile net loss to net cash
         (used in) provided by operating activities:
         Amortization                                                        28,458                   28,458
         Equity in losses of limited partnerships                           444,725                  211,497
         Accrued interest payable                                                 -                  183,888
         Accrued fees and expenses due to General Partner
          and affiliates                                                   (202,112)                   2,902
                                                                 ------------------       --------------------

   Net cash (used in) provided by operating activities                     (230,438)                 179,461

   Cash flows from investing activities:
      Investments in limited partnerships, net                             (655,822)              (1,245,663)
      Funds held in escrow disbursement account                                   -                  591,512
      Loans receivable                                                      126,731                  329,000
      Distributions from limited partnerships                                 2,927                    8,222
                                                                 ------------------       --------------------

   Net cash used in investing activities                                   (526,164)                (316,929)

   Net decrease in cash and cash equivalents                               (756,602)                (137,468)
                                                                 ------------------       --------------------

   Cash and cash equivalents, beginning of period                         2,246,731                2,886,305
                                                                 ------------------       --------------------

   Cash and cash equivalents, end of period                   $           1,490,129    $           2,748,837
                                                                 ==================       ====================

   SUPPLEMENTAL DISCLOSURE OF CASH
      FLOW INFORMATION
         Taxes paid                                           $                   -    $                 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 September 30, 2003
                                   (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 and six
months ended  September 30, 2003 are not  necessarily  indicative of the results
that may be  expected  for the fiscal year ending  March 31,  2004.  For further
information, refer to the financial statements and footnotes thereto included in
the Partnership's amended annual report on Form 10-K/A for the fiscal year ended
March 31, 2003.

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, 2003, 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.  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.

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.


                                       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 September 30, 2003
                                   (unaudited)


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

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

An investment in the  Partnership  and the  Partnership's  investments  in Local
Limited  Partnerships  and their Housing  Complexes are subject to risks.  These
risks may impact the tax benefits of an investment in the  Partnership,  and the
amount of proceeds  available for distribution to the Limited Partners,  if any,
on liquidation of the Partnership's investments. Some of those risks include the
following:

The  Low-Income  Housing Credit rules are extremely  complicated.  Noncompliance
with these rules results in the loss of future  Low-Income  Housing Credit s and
the fractional  recapture of Low-Income  Housing  Credits already taken. In most
cases the annual amount of Low-Income Housing Credits that an individual can use
is limited to the tax  liability  due on the  person's  last  $25,000 of taxable
income.  The  Local  Limited  Partnerships  may be  unable  to sell the  Housing
Complexes  at a price  which  would  result in the  Partnership  realizing  cash
distributions or proceeds from the tranaction.  Accordingly, the Partnership may
be unable to distribute any cash to its investors.  Low-Income  Housing  Credits
may be the only benefit from an investment in the Partnership.

The Partnership has invested in a limited number of Local Limited  Partnerships.
Such  limited  diversity  means that the  results of  operation  of each  single
Housing  Complex  will have a greater  impact on the  Partnership.  With limited
diversity,   poor   performance   of  one  Housing   Complex  could  impair  the
Partnership's ability to satisfy its investment objectives. Each Housing Complex
is subject to mortgage  indebtedness.  If a Local Limited  Partnership failed to
pay its  mortgage,  it  could  lose  its  Housing  Complex  in  foreclosure.  If
foreclosure  were to occur during the first 15 years,  the loss of any remaining
future Low-Income  Housing Credits,  a fractional  recapture of prior Low-Income
Housing  Credits,  and a loss of the  Partnership's  investment  in the  Housing
Complex would occur. The Partnership is a limited partner or non-managing member
of each Local Limited Partnership.  Accordingly,  the Partnership will have very
limited rights with respect to management of the Local Limited Partnerships. The
Partnership  will  rely  totally  on the Local  General  Partners.  Neither  the
Partnership's  investments in Local Limited Partnerships,  nor the Local Limited
Partnerships'  investments in Housing Complexes, are 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 interests
in Local Limited Partnerships; limitations on removal of Local General Partners;
limitations on subsidy programs; and possible changes in applicable regulations.
Uninsured  casualties  could result in loss of property and  Low-Income  Housing
Credits and recapture of Low-Income  Housing Credits previously taken. The value
of real  estate  is  subject  to risks  from  fluctuating  economic  conditions,
including employment rates, inflation,  tax, environmental,  land use and zoning
policies, supply and demand of similar properties,  and neighborhood conditions,
among others.

The  ability of Limited  Partners to claim tax losses  from the  Partnership  is
limited.  The IRS may audit the  Partnership or a Local Limited  Partnership and
challenge  the tax  treatment  of tax items.  The amount of  Low-Income  Housing
Credits and tax losses  allocable to the  investors  could be reduced if the IRS
were successful in such a challenge.  The  alternative  minimum tax could reduce
tax benefits from an investment  in the  Partnership.  Changes in tax laws could
also impact the tax benefits from an investment  in the  Partnership  and/or the
value of the Housing Complexes.

No trading market for the Units exists or is expected to develop.  Investors may
be unable to sell their Units  except at a discount  and should  consider  their
Units to be a long-term  investment.  Individual investors will have no recourse
if they  disagree  with actions  authorized by a vote of the majority of Limited
Partners.

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

The Partnership  accounts for its investments in limited  partnerships using the
equity method of  accounting,  whereby the  Partnership  adjusts its  investment
balance for its share of the Local Limited  Partnerships'  results of operations
and for any  contributions  made and  distributions  received.  The  Partnership
reviews the  carrying  amount of an  individual  investment  in a Local  Limited
Partnership for possible  impairment whenever events or changes in circumstances
indicate that the carrying
                                       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 September 30, 2003
                                   (unaudited)


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

amount  of  such  investment  may  not be  recoverable.  Recoverability  of such
investment  is  measured  by a  comparison  of the  carrying  amount  to  future
undiscounted  net cash flows  expected  to be  generated.  If an  investment  is
considered  to be impaired,  the  impairment to be recognized is measured by the
amount by which the carrying  amount of the investment  exceeds fair value.  The
accounting policies of the Local Limited Partnership's are consistent with those
of  the  Partnership.  Costs  incurred  by  the  Partnership  in  acquiring  the
investments  are  capitalized  as part of the  investment  account and are being
amortized over 30 years (see Notes 3 and 4).

Equity in losses of Local Limited  Partnerships  for the periods ended September
30, 2003 and 2002 have been recorded by the  Partnership  based on six months of
results  estimated by management of the Partnership.  Management's  estimate for
the six-month period is based on either actual unaudited results reported by the
Local Limited  Partnerships or historical  trends in the operations of the Local
Limited Partnerships.  Equity in losses of Local Limited Partnerships  allocated
to the  Partnership  will not be  recognized  to the extent that the  investment
balance would be adjusted below zero. As soon as the investment  balance reaches
zero,  the related  costs of acquiring the  investment  are  accelerated  to the
extent of losses  available  (see  Note 3).  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.

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 September 30, 2003
and March 31, 2003.

Exit Strategy
-------------

The IRS  compliance  period for  low-income  housing  tax credit  properties  is
generally  15 years from  occupancy  following  construction  or  rehabilitation
completion.  WNC was one of the first in the industry to offer investments using
the tax credit.  Now these very first programs are completing  their  compliance
period.

With that in mind, we are continuing our review of the  Partnership's  holdings,
with special  emphasis on the more mature  properties  including those that have
satisfied the IRS compliance requirements. Our review will consider many factors
including  extended  use  requirements  on the  property  (such as those  due to
mortgage  restrictions  or state  compliance  agreements),  the condition of the
property,  and  the tax  consequences  to the  investors  from  the  sale of the
property.

Upon identifying  those  properties with the highest  potential for a successful
sale, refinancing or syndication, we expect to proceed with efforts to liquidate
those  properties.  Our objective is to maximize the investors'  return wherever
possible and,  ultimately,  to wind down those funds that no longer  provide tax
benefits  to  investors.  To date no  properties  in the  Partnership  have been
selected.

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.


                                       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 September 30, 2003
                                   (unaudited)


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

Income Taxes
------------

No provision for income taxes has been  recorded in the financial  statements as
any  liability  and/or  benefits  for income  taxes flows to the partners of the
Partnership and is their obligation and/or benefit.  For income tax purposes the
Partnership reports on a calendar year basis.

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

The Partnership considers all highly liquid investments with original maturities
of three months or less when purchased to be cash  equivalents.  As of September
30, 2003 and March 31, 2003 the Partnership  had cash  equivalents of $1,490,000
and  $2,247,000,  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 September  30, 2003,  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.

New Accounting Pronouncements
-----------------------------

In January 2003, the FASB issued Interpretation No. 46 ("FIN46"), "Consolidation
of  Variable  Interest  Entities."  FIN 46  provides  guidance on when a company
should include the assets,  liabilities,  and activities of a variable  interest
entity  ("VIE")  in  its  financial  statements  and  when  it  should  disclose
information  about its relationship  with a VIE. A VIE is a legal structure used
to conduct activities or hold assets, which must be consolidated by a company if
it is the primary  beneficiary  because it absorbs the  majority of the entity's
expected losses, the majority of the expected returns, or both.


In  December  2003,  the FASB issued a revision of FIN 46 ("FIN 46R") to clarify
some of its provisions.  The revision results in multiple  effective dates based
on the  nature  as well as the  creation  date of the VIE.  VIEs  created  after
January 31,  2003,  but prior to January 1, 2004,  may be  accounted  for either
based on the original interpretations or the revised  interpretations.  However,
all VIEs must be accounted for under the revised interpretations as of March 31,
2004, when FIN 46R is effective for the Partnership.


                                       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 September 30, 2003
                                   (unaudited)


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

This  Interpretation  would require  consolidation by the Partnership of certain
Local Limited  Partnerships' assets and liabilities and results of operations if
the Partnership determined that the Local Limited Partnership was a VIE and that
the  Partnership  was  the  "Primary  Beneficiary."  Minority  interests  may be
recorded for the Local Limited  Partnerships'  ownership  share  attributable to
other Limited Partners. Where consolidation of Local Limited Partnerships is not
required,   additional  financial  information   disclosures  of  Local  Limited
Partnerships  may be  required.  The  Partnership  has  assessed  the  potential
consolidation effects of the Interpretation and preliminarily concluded that the
adoption of the Interpretation  will not have a material impact on the financial
statements of the Partnerships.

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

Loans  receivable  represent  amounts loaned by the Partnership to certain Local
Limited  Partnerships  in  which  the  Partnership  may  invest  or has  already
invested.   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 September 30, 2003, loans receivable and accrued interest thereon of
$85,982 were due from two Local Limited  Partnerships  in which the  Partnership
owns a 99.98%  interest (See Note 7). One of the loans in the amount of $78,000,
is in the  form  of a 20 year  promissory  note,  is  subordinate  to the  first
mortgage on the  respective  property,  due in full on August 30, 2022 and earns
interest at a rate of 8% per annum.

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

As of the period  presented,  the Partnership had 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.

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.

Distributions  from the Local 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 September 30, 2003, no investment
accounts in Local Limited Partnerships had reached a zero balance.




                                       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 September 30, 2003
                                   (unaudited)

<TABLE>
<CAPTION>

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

Following is a summary of the equity method activity of the investments in Local
Limited Partnerships for the periods presented below:

                                                                   For the Six                 For the Year
                                                                   Months Ended                    Ended
                                                                September 30, 2003            March 31, 2003
                                                              -----------------------   ----------------------------

<S>                                                         <C>                       <C>
  Investments per balance sheet, beginning of period        $            13,010,788   $                 13,125,199
  Capital contributions paid, net                                           618,572                      1,105,258
  Capital contributions payable                                              30,354                              -
  Equity in losses of limited partnerships                                 (444,725)                      (962,573)
  Distributions received from limited partnerships                           (2,927)                        (2,222)
  Amortization of capitalized acquisition fees and costs                    (28,458)                       (56,916)
  Tax credit adjustment                                                           -                       (197,958)
                                                              -----------------------   ----------------------------

  Investments per balance sheet, end of period              $            13,183,604   $                 13,010,788
                                                              =======================   ============================
</TABLE>

Selected  financial  information for the six months ended September 30, 2003 and
2002 from the unaudited combined condensed  financial  statements of the limited
partnerships in which the Partnership has invested is as follows:


                   COMBINED CONDENSED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>

                                                                       2003                   2002
                                                                 -------------------    ------------------
                                                                                             (Restated)
<S>                                                            <C>                    <C>
         Revenue                                               $        1,344,000    $          972,000
                                                                 -------------------    ------------------

         Expenses:
           Interest expense                                               395,000               361,000
           Depreciation                                                   529,000               323,000
           Operating expenses                                             865,000               500,000
                                                                 -------------------    ------------------

             Total expenses                                             1,789,000             1,184,000
                                                                 -------------------    ------------------
           Net Loss                                            $         (445,000)    $        (212,000)
                                                                 ===================    ==================

         Net loss allocable to the Partnership                 $         (445,000)    $        (211,000)
                                                                 ===================    =================

         Net loss recorded by the Partnership                  $         (445,000)    $        (211,000)
                                                                 ===================    ==================
</TABLE>



                                       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 September 30, 2003
                                   (unaudited)



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

Certain Local Limited  Partnerships have incurred  significant  operating losses
and/or 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/or the loss and recapture of the related tax credits could occur.

NOTE 4 - RELATED PARTY TRANSACTIONS
-----------------------------------

Under the terms of the Partnership Agreement the Partnership is obligated to the
General Partner or its affiliates for the following items:

     (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 September 30, 2003 and March 31,
          2003,  the  Partnership   incurred  acquisition  fees  of  $1,319,500.
          Accumulated  amortization of these capitalized costs were $144,851 and
          $122,857 as of September 30, 2003 and March 31, 2003, 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
          September  30,  2003 and  March 31,  2003,  the  Partnership  incurred
          acquisition  costs of $377,000.  Accumulated  amortization was $42,454
          and $35,990 as of September 30, 2003 and March 31, 2003, 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
          $28,904  and  $17,996  were  incurred  during  the  six  months  ended
          September 30, 2003 and 2002,  respectively.  The Partnership  paid the
          General  Partner or its  affiliates  $35,133 and $22,500 of those fees
          during the six months ended September 30, 2003 and 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.

     (e)  The  Partnership  reimburses the General Partner or its affiliates for
          operating  expenses  incurred in behalf of the Partnership.  Operating
          expense  reimbursements  are approximately  $17,001 and $26,952 during
          the six months ended September 30, 2003 and 2002, respectively.

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

                                                                   September 30, 2003       March 31, 2003
                                                                  ----------------------   ------------------
<S>                                                             <C>                      <C>
         Interest and insurance proceeds payable to             $                20,902  $           220,903
           Local Limited Partnerships
         Organizational, offering and selling costs payable                       2,590                2,590
         Asset management fee payable                                            42,811               49,040
         Reimbursement for expenses paid by
           the General Partner or an affiliate                                    8,665                4,547
                                                                  ----------------------   ------------------

                                                                $                74,968  $           277,080
                                                                  ======================   ==================
</TABLE>




                                       13
<PAGE>



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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                    For the Quarter Ended September 30, 2003
                                   (unaudited)


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).

NOTE 6 - COMMITMENTS AND CONTINGENCIES
--------------------------------------

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, had a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan was due in March 2002 and was not repaid at that time.  In  September  2002
the loan was successfully  refinanced with a first mortgage of $463,000 and a 20
year loan of $80,000 from the Partnership to Southern Hills.  The balance of the
construction  loan  was  paid  off  by  the  Local  Limited   Partnership.   The
Partnership's loan is subordinate to the first mortgage and requires payments to
be made  monthly  and at the end of the  year  from  available  cash  flow.  The
Partnership expects this loan to be collectible in full. Southern Hills has been
making all payments on a timely  manner and as of September  30, 2004 is current
on the loan owing to the Partnership.

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 the Shelter  Resource  Corporation  ("SRC")
executed a workout  agreement with their lender (the  "Agreement"),  whereby the
Local  General   Partner  of  Lake  Village   Apartments  was  replaced  by  the
aforementioned  SRC.  Pursuant  to the  terms of the  Agreement,  the new  Local
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  as a result of  obtaining  additional  tax
credits,  and $387,877 was disbursed to an escrow account and further  disbursed
to Lake Village  Apartments.  A net amount of $522,997 had been advanced to Lake
Village by March 31, 2003.  An amount of $467,751  from this advance was applied
to capital  contributions  along  with  $49,587  that was  applied  towards  the
interest  payable owing to Lake Village  resulting  from an escrow account as of
March 31, 2003, resulting in a balance of $5,660. The Partnership entered into a
loan  receivable  agreement in the amount of this balance,  which is included in
loans  receivable.  Construction of the development is completed and is 100% tax
credit qualified. The property will be switching management companies in January
2005 to improve the quality of tenant  communications,  stablize  occupancy  and
reduce operating expenses. The current occupancy rate is 90% as of September 30,
2004.




                                       14
<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
three and six months ended  September  30, 2003 and 2002,  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 September 30, 2003 consisted primarily of $1,490,000
in cash  and cash  equivalents,  aggregate  investments  in the  thirteen  Local
Limited Partnerships of $13,184,000 and $85,000 in loans receivable. Liabilities
at  September  30,  2003   primarily   consisted  of  $330,000  due  to  limited
partnerships, $54,000 of accrued asset management fees, commissions payable, and
reimbursements  due to the General Partner or affiliates and $21,000 in interest
and insurance proceeds payable to affiliates.

Results of Operations

Three Months Ended  September 30, 2003 Compared to Three Months Ended  September
30, 2002. The  Partnership's  net loss for the three months ended  September 30,
2003 was  $(252,000),  reflecting  an  increase in loss of  $(122,000)  from the
$(130,000) net loss for the three months ended  September 30, 2002. The increase
in net loss was  primarily  due to an increase of  approximately  $(103,000)  in
equity in losses of limited partnerships,  which increased to $(222,000) for the
three months ended September 30, 2003 from $(119,000) for the three months ended
September  30,  2002,  due to the  completion  of  construction  and lease-up of
additional  properties.  In  addition  to the  increase in equity in losses from
limited  partnerships,  loss from operations increased by $(19,000) to a loss of
$(29,000),  for  the  three  months  ended  September  30,  2003  from a loss of
$(10,000) for the three months ended  September  30, 2002.  The increase in loss
from  operations was primarily due to a decrease in interest income of $(22,000)
due to lower interest  rates and balance of cash on hand,  offset by an increase
of reporting fee of $12,000,  an increase in asset  management fees of $(6,000),
along with an increase  in legal and  accounting  fees of  $(7,000)  offset by a
decrease  in other  operating  expenses  of  approximately  $4,000 for the three
months ended September 30, 2003.

Six Months Ended  September 30, 2003 Compared to Six Months Ended  September 30,
2002. The Partnership's net loss for the six months ended September 30, 2003 was
$(502,000), reflecting an increase in loss of $(254,000) from the $(248,000) net
loss for the six months ended  September 30, 2002.  The increase in net loss was
primarily due to an increase of approximately  $(233,000) in equity in losses of
limited partnerships, which increased to


                                       15
<PAGE>


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

$(445,000) for the six months ended  September 30, 2003 from  $(212,000) for the
six months ended September 30, 2002, due to the completion of  construction  and
lease-up of  additional  properties.  In  addition to the  increase in equity in
losses from limited partnerships, loss from operations increased by $(21,000) to
a loss of $(57,000),  for the six months ended September 30, 2003 from a loss of
$(36,000) for the six months ended September 30, 2002. The increase in loss from
operations  was primarily due to a decrease in interest  income of $(28,000) due
to lower  interest  rates and  balance  of cash on hand,  which was offset by an
increase in reporting fee of $12,000,  an increase in asset  management  fees of
$(11,000),  which was offset by a decrease in other operating expenses of $6,000
for the six months ended September 30, 2003.

Cash Flows

Six Months Ended  September 30, 2003 Compared to Six Months Ended  September 30,
2002.  Net  cash  used  during  the six  months  ended  September  30,  2003 was
$(757,000),  compared to the net cash used in the six months ended September 30,
2002 of  $(138,000)  reflecting  an increase of  $(619,000)  net cash used.  The
increase is  primarily  due to a  $(410,000)  increase in cash used in operating
activities, which is due to a $(184,000) decrease in accrued interest payable, a
$(205,000)  decrease  in accrued  fees and  expense  due to General  Partner and
affiliates along with a $ (21,000) increase in loss from operations  largely due
to the $(16,000)  decrease in operating  income.  In addition to the increase in
net cash used in operating  activities,  there is also an increase of $(209,000)
in cash used in  investing  activities.  The  increase in cash used in investing
activities is due to a $590,000 decrease in cash used for investments in limited
partnerships,  a  $(592,000)  decrease  in  funds  held in  escrow  disbursement
account,  a  $(202,000)  decrease  in loans  receivable,  along  with a $(5,000)
decrease in distributions received from limited partnerships.

The Partnership  expects its future cash flows,  together with its net available
assets at September 30, 2003, 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  as a result  of  obtaining
additional  tax credits,  and $387,877  was  disbursed to an escrow  account and
further disbursed to Lake Village Apartments.  A net amount of $522,997 had been
advanced to Lake  Village by March 31,  2003.  An amount of  $467,751  from this
advance was applied to capital contributions along with $49,587 that was applied
towards the  interest  payable  owing to Lake Village  resulting  from an escrow
account as of March 31, 2003,  resulting in a balance of $5,660. The Partnership
entered into a loan receivable agreement in the amount of this balance, which is
included in loans  receivable.  Construction of the development is completed and
is  100%  tax  credit  qualified.  The  property  will be  switching  management
companies  in January  2005 to  improve  the  quality of tenant  communications,
stablize occupancy and reduce operating expenses.  The current occupancy rate is
90% as of September 30, 2004.

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, had a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan was due in March 2002 and was not repaid at that time.  In  September  2002
the loan was  successfully  refinanced  with a first  mortgage of $463,000 and a
20-year loan of $80,000 from the Partnership to Southern Hills. The Partnerships
loan is  subordinate  to the first  mortgage  and  requires  payments to be made
monthly and at the end of the year from  available  cash flow.  The  Partnership
expects this loan to be collectible in full.  Southern Hills has been making all
payments on a timely manner and as of  September 30, 2004 is current on the loan
owing to the Partnership.


                                       16

<PAGE>


The Partnership  expects its future cash flows,  together with its net available
assets at September 30, 2003, to be sufficient to meet all currently foreseeable
future cash requirements.

Item 3.   Quantitative and Qualitative Disclosures about Market Risk

          NOT APPLICABLE

Item 4.   Controls and Procedures

As of the end of the period covered by this report,  the  Partnership's  General
Partner, under the supervision and with the participation of the Chief Executive
Officer and Chief Financial  Officer of Associates  carried out an evaluation of
the effectiveness of the Fund's "disclosure  controls and procedures" as defined
in  Securities  Exchange  Act of 1934  Rule  13a-15  and  15d-15.  Based on that
evaluation,  the Chief Executive  Officer and Principal  Financial  Officer have
concluded  that  as of  the  end of the  period  covered  by  this  report,  the
Partnership's  disclosure controls and procedures were adequate and effective in
timely  alerting  them  to  material  information  relating  to the  Partnership
required to be included in the Partnership's periodic SEC filings.

Changes  in  internal  controls.  There  were no  changes  in the  Partnership's
internal control over financial reporting that occurred during the quarter ended
September  30,  2004  that  materially  affected,  or are  reasonably  likely to
materially affect, the Partnership's internal control over financial reporting.

Part II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)       Reports on Form 8-K.
          --------------------

          NONE

(b)       Exhibits.
          ---------

31.1      Certification  of the  Principal  Executive  Officer  pursuant to Rule
          13a-15(e)  and  15d-15(e),  as adopted  pursuant to section 302 of the
          Sarbanes-Oxley Act of 2002. (filed herewith)

31.2      Certification  of the  Principal  Financial  Officer  pursuant to Rule
          13a-15(e)  and  15d-15(e),  as adopted  pursuant to section 302 of the
          Sarbanes-Oxley Act of 2002. (filed herewith)

32.1      Section 1350  Certification  of the Chief  Executive  Officer.  (filed
          herewith)

32.2      Section 1350  Certification  of the Chief  Financial  Officer.  (filed
          herewith)






                                       17
<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 Executive Officer of WNC & Associates, Inc.

Date:  November 10, 2004




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

Date:  Novemer 10, 2004





                                       18