Who is eligible for a CHIP loan?

For an owner occupied loan, the household income must be less than 80% of median income (view Income Eligibility Guidelines). The home must have sufficient equity available to apply.

For a non-owner occupied loan, the investor is required to fund 50% of project expenses and make housing available to low and moderate income families. CHIP works with local lenders that can assist investors with their portion of the project funding.

Check to see if you are eligible using this form > (Am I eligible for a CHIP loan?)

Show All Answers

1. Who is eligible for a CHIP loan?
2. How do I apply for a CHIP loan?
3. What happens after I apply for a CHIP rehabilitation loan?
4. How is the housing rehabilitation work paid?
5. How do I pay for the housing rehabilitation work?
6. What are the terms of a CHIP loan?
7. How is the housing rehabilitation work completed?
8. How can I become a CHIP approved Contractor?