Housing Construction Loan Application - cdfifund 2025

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Cons of a CDFI Loan: Not everyone is eligible. To qualify for a CDFI, your business must lack resources and/or need financial assistance. CDFI loans qualify individuals based on different criteria compared to traditional banks which can therefore lead to varying interest rates.
Organizations that receive Capital Magnet Fund awards are required to produce housing and community development investments at least ten times the size of the award amount, generating a multiplier effect that means that more low-income people and low-income communities nationwide will have housing options within their
CMF was established through the Housing and Economic Recovery Act (HERA) of 2008 (Public Law 110-289, section 1131). The source of funding for CMF comes from allocations from the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nations most distressed communities.
Some CDFIs do not have a minimum credit score requirement, while others may require a 600 or above. Typically 680.
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ELIGIBILITY. Capital Magnet Fund Applicants must be: A Certified CDFI, or. A non-profit organization operating with a principal purpose of developing or managing affordable housing solutions.

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