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liu i tie I i nes: <br />Amok CDPD Fund, availablo at 3% annual simple interest. <br />10 year term, no penalty tcir prepayment <br />Mi n i mtrm loan-. arrioe.ur t 0500; Ma.: i mvm l u.An amount <br />♦fro K ) <br />Applicant hOUSeholds adjusted gross. income not to <br />P,xeod 1124.00(1 <br />Applicant must meet 40% debt. to income ratio and <br />have an acceptable credit. history <br />tic, see ur rty rvgtri rrd <br />MHFA Frirrds available at. 7% to 1t% dependant nn household <br />i nrome <br />- 15 yrnr term, no penally fir Pr opaymont <br />- Maximum loan amount. f15,00r, <br />Applicanthcnisehold adlusted gross income not to <br />exceed $24.000 <br />- Applicant must. merrf 44j% debt to income ratio and <br />have acceptable credit history <br />- Security required on leans greater than $2500 <br />B. Tier Two <br />Deferred loan program for energy conservation improvements <br />Fund:-rry: l42.000 CUES funds (40% of available CDBC excluding <br />administrative expenses) <br />Desr.r:ption: <br />(his tier pi rr:tde, ftnidirig for Applicants who do not coal ify <br />under the CDEi13 or WIFA installmPiit loan programs. Households <br />with high energy Lisp, the inabs I , I / to meet a 4V1% debt to income <br />ratio. anti/or poor credit history would be eligible for a five <br />year deferred loan. The loan does riot have to be repaid unless <br />the property is sold within five years from the date of the loan. <br />our dclinesi <br />- Fivr.• year deferred note <br />- Zero interest, principal only due upon <br />transfer of property within five year deferral <br />per i od <br />- Mi ri i mum loan amount 65.60; Ma ,: i mtiri 1 i tan amOUn t $5000 <br />- App l i i aril household adjusted gr osa income not to <br />evcr�d $24,000 <br />- Applicont cannel duel i f v fur CD6ff or MHFA <br />installment loan programs (e.y.. poor credit <br />hi st or v, debt to int omo ral.in rnLerds 40"i, etc.) <br />Evaluation <br />rl financial evaluation would be oval Iall IV Ir orugh an annual <br />financial audit. Evaluation of pruyram results would be through <br />Z <br />