ELIGIBLE BORROWERS (top)
CHIF provides acquisition and construction financing to community-based non-profit developers and for-profit developers of affordable housing for the rehabilitation of abandoned, foreclosed, and deteriorated single-family properties in urban areas.        

PARTNERS   
CHIF has tapped community participation with a variety of financing partners.  CHIF's low-cost construction loans, combined with subsidy financing, fill the gap between the property's appraised value and the actual development cost.  These subsidies are critical to the program because the acquisition, rehabilitation and carrying costs are reduced for the non-profit developer and the savings are passed on to the end-buyers.   CHIF has established an array of subsidies to dovetail the loans from sources including the Fannie Mae Foundation, the Federal Home Loan Bank of Boston, State Street Bank Foundation, the State of Connecticut Department of Economic and Community Development's HOME Investment Partnership Program and the Melville Charitable Trust.