Chip Housing Income Limits 1 Have sufficient income to make monthly mortgage payment 2 Have good credit perfect credit is not necessary 3 Do NOT exceed low income limits 4 Willing to work collaboratively with a group of homeowners to help build your own home Income Limits for household sizes 1 thru 4 persons 55 900
Recognized as an innovator and leader in affordable housing our organization has built over 2 850 housing units These living solutions assist low income and disadvantaged residents find and afford a place to call home Applicants must meet income limits based on households size and must demonstrate an ability to carry a mortgage Decent credit is needed If you have any questions about your credit please don t hesitate to reach out Income Limits by Household Size
Chip Housing Income Limits
Chip Housing Income Limits
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Learn more about the Community Housing Improvement Corporation guidelines such as income limits owner rehab program and repairs Below are the 2024 income limits for the CHIP Program Rental and Owner Occupied Effective 4 1 24 If property has Lead Abatement Orders from the Ohio Department of Health contact MVPO for more information
Funding amounts are determined by housing needs assessed by the Rehabilitation Specialist at inspection Funding is limited so apply soon These programs are available to existing income qualified owner occupied households who reside within Auglaize County Assistance will be in the form of a declining deferred loan Frequently Asked Questions about the Community Housing Improvement Program Am I eligible Any household in the City of Shelby whose total income of all wage earners 18 years or older falls at or below the income guidelines for the program are eligible to apply How much money can I
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INCOME LIMIT The TOTAL income of all wage earners 18 years or older residing in the house must be at or below the income guidelines for the program To Determine eligibility for assistance we must project a household s income into the future To do so a snapshot of the household s current circumstances is used to project future income Contact the HRA for income limits for larger households Loan not to exceed 10 000 Interest rate will be 2 A lien shall be placed on the property by the HRA for the loan amount Either the Homeowner or Contractor is responsible for getting the
The Community Housing Impact and Preservation CHIP Program provides funding to Ohio s non entitlement communities to improve and provide affordable housing for low and moderate income citizens CHIP funds are distributed in one competitive funding round per year Household income at or below 80 of the Area Median Income AMI Must demonstrate repayment ability First time homebuyer or have not owned a home in the past three years Plan to live in the home as a primary residence
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1 Have sufficient income to make monthly mortgage payment 2 Have good credit perfect credit is not necessary 3 Do NOT exceed low income limits 4 Willing to work collaboratively with a group of homeowners to help build your own home Income Limits for household sizes 1 thru 4 persons 55 900
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https://chiphousing.org
Recognized as an innovator and leader in affordable housing our organization has built over 2 850 housing units These living solutions assist low income and disadvantaged residents find and afford a place to call home
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Chip Housing Income Limits - Learn more about the Community Housing Improvement Corporation guidelines such as income limits owner rehab program and repairs