CHIML - What does CHIML stand for? The Free Dictionary
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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.
, buyers can purchase and renovate a home with a single loan.
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.