A National Community Development Financial Institution (CDFI)Flexible Loan Capital Customized to Create Affordable Housing

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What is a CDFI?

Community Development Financial Institutions (CDFIs) are private-sector, community-based, financial intermediaries.  CDFIs share a common goal: to foster economic opportunity and revitalize neighborhoods in low-income communities. CDFI Certification is the U.S. Department of the Treasury's recognition of specialized financial institutions serving low-income communities with a variety of structures and development lending strategies, 

Who are CHC's borrowers?

Community Housing Capital lends exclusively to members of the NeighborWorks network. This coalition of over 240 community development organizations is chartered by NeighborWorks America which provides access to technical assistance, grants, and regular assessments of organizational strength and capacity. NeighborWorks network organizations provide a wide array of housing and other services to their communities including improved homeownership opportunities for low- and moderate-income families, financial education, rehabilitation of dilapidated properties, and the construction and preservation of affordable rental homes across the nation. Moreover, NeighborWorks organizations strengthen communities by offering on-site programs that include health and nutrition intervention, education services, and workforce development opportunities. They have proven track records for positive housing outcomes and have built-in mechanisms, such as formal and informal surveys for obtaining and incorporating feedback from the communities and the economically disadvantaged individuals they serve. Their boards of directors include multiple representatives of their communities. Learn More about NeighborWorks America.

Does CHC provide consumer mortgages?

No. Consumers are advised to contact their local NeighborWorks organization for homebuyer assistance.

Does CHC provide grants?

No. CHC provides predevelopment, acquisition (raw land and land with improvements) and construction loans, as well as permanent multifamily mortgages to the nonprofit housing developers of the NeighborWorks network.

Our organization is not part of the NeighborWorks network, can we borrow from CHC?

Only Chartered NeighborWorks® organizations and their affiliates may apply for a loan with Community Housing Capital.

How does our organization become a member of the NeighborWorks network?

Nonprofit community-based organizations that focus on community revitalization and the production of affordable housing can apply for membership in the NeighborWorks network. Each member organization benefits from grants, technical assistance, training and other resources provided by federally funded NeighborWorks America. Learn More

How do I apply for loan with CHC?

We encourage you to reach out to our loan team as soon as you have identified a need for financing. Sometimes, we can offer advice or suggestions to make a development proposal stronger or we may be able to propose ideas for other sources of funds. To make the lending process easier and faster for you, CHC does not require a formal loan application. Contact us at (404) 373-5662 for more information.

Does CHC have a minimum and/or maximum loan amount?

Our minimum loan amount is $250,000 (on a case-by-case basis we may originate a smaller loan). Our maximum loan amount is $10 million. Where a larger loan is needed, CHC can originate loans up to $20 million, by participating with other nonprofit organizations.

How long is the underwriting process?

Most transactions will require 30 to 60 days to underwrite and fund from the time all supporting documents have been received by CHC.

Where does CHC lend?

Nationwide

Details

Western & Midwest Region

Dana Chestnut SVP Chief Lending Officer3Email for Dana
  • 404-373-5662
  • 402 E. Howard Ave. Decatur GA 30030
  • This email address is being protected from spambots. You need JavaScript enabled to view it.
  • (404) 373-5662
    (678) 538-9924
    (678) 538-9925
    (678) 538-9915

 

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