CHIMLCommunity Home Improvement Mortgage Loan (Housing and Urban Development)
References in periodicals archive ?
The Detroit CHIML product can also be used for single-family homes valued at more than $45,000 or for two-unit properties in neighborhoods where two- unit homes represent 25 percent of the housing, such as in Mexicantown and Virginia Park.
Under a pilot initiative in both cities, CHIML can now be used for homes in need of modest repair with a down payment of 3 to 5 percent, with repair costs accounting for as much as 50 percent of the loan amount.