Home Improvement Loan
Revitalize your home with CHAI's Home Improvement Loan!
We offer up to $20,000 at 0-5% interest for home improvements and upgrades to income-eligible homeowners in northwest Baltimore. Learn more below!
Features of the Home Improvement Loan
· Enjoy stability with fixed interest rates for the life of the loan.
·No minimum homeownership duration required.
· Choose payment and rate options that best suit your budget.
Eligibility Requirements for the Home Improvement Loan
· Household income, including income from all adults (18+) living in the home, must not exceed 150% of Area Median Income (AMI).
· Appraised value of home may not exceed $499,650.
· Reside anywhere in the 21215 zip code or one of the following neighborhoods: Cheswolde, Cross Country, Fallstaff, Glen, and Mount Washington.
· Minimum credit score of 640.
*To qualify for a second CHAI loan, a 12-month payment history is required.*
Additional criteria may apply. Learn more about the eligibility requirements for the Home Improvement Loan below.
Please Note:
- Eligibility for a CHAI loan does not guarantee approval.
- CHAI loans are secondary mortgages secured by your home, with a Deed of Trust recorded in the appropriate Land Records jurisdiction.
- Borrowers are required to maintain Homeowners Insurance, listing CHAI as an additional mortgagee.
Start Your Eligibility Check
Answer a few simple questions about your household income and the location of your home to determine if you reside within our general service area. If your answers meet our criteria, you will receive a link to our application. If you're unsure about your answers or feel that you may have answered a question incorrectly, please don't hesitate to reach out to us for confirmation at khobbs@chaibaltimore.org.
“On behalf of my family, I would like to thank CHAI for providing us the resources to make several needed improvements to our home and adding value to our house as well as the Fallstaff neighborhood at large.”
