Top Red Bar
Home > Departments > Development

Community Development

CHIP  Program
Loan Terms



Loan Terms
The loan terms vary by the amount of HOME assistance provided, as follows:  

 Loan Terms

$1,000 to $14,999  ------------------------------------------------        5 years

Chip Funding Cap is $14,999

CHIP program guidelines cannot dictate the loan term agreement between the first mortgage lender and the borrower. 

Interest Rate
Zero percent interest                    

Loan Deferral
The Unified Government’s second mortgage will be deferred based on the above mentioned terms with the following conditions. 

  1. The property owner must remain in good standing on the first mortgage.
  2. The property owner must remain current on all property taxes.
  3. The property owner must have no property code violations during the mortgage term. 

If ALL of the above conditions are met, the Unified Government will forgive the second mortgage at the end of the loan term.    

Line Divider Gray

UG Logo gif  
Address Hours Constance Bones Phone Numbers
City Hall 8:00 am to 5:00 pm Program Technician II P: (913) 573-5127
701 N 7th Street Monday - Friday Email F: (913) 573-5115
8th Floor      
Kansas City, KS      

Background Piece Background Piece