The Cleveland-based nonprofit lender is now a Community Development Financial Institution, certified by the U.S. Treasury. That designation gives CHN access to new funding streams to expand its first-mortgage program and other efforts aimed at low- to middle-income borrowers.
CHN Housing Capital, the lending arm of Cleveland-based nonprofit CHN Housing Partners, is aiming its new mortgage product at borrowers seeking $70,000 or less. More than 500 people have inquired about the program, which debuted in early April, and the first crop of buyers includes renters-turned-owners on Cleveland's East Side.
Cleveland nonprofit launches low-dollar mortgage wing to spur homeownership in East Side, low-income neighborhoods msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.