Does your home need some repairs?
Community's Home Improvement Program (CHIP) offers fixed rate loans for home improvements.
- CHIP is a special lending plan that enables qualified home owners to borrow up to $10,000 for home improvements.
- Total amount borrowed on your home can be up to 95% of its value.*
- CHIP loans are for a maximum of five years at competitive fixed rates.
- You don't need to have a mortgage at Community to apply for a CHIP.
- First and second mortgages combined can be up to 95% of your home's value. For example: a CHIP loan with a term of five years will have 60 monthly payments of $205.17 with a corresponding annual percentage rate (APR) of 8.564%. Maximum loan amount is the lesser of $10,000 or 95% of the value of the property. Example as of July 1, 2024.
All loans are subject to Community’s underwriting standards.