Community Housing Works Realty & Lending

“The 990 is reviewed internally and then presented to the audit committee for review and approval prior to filing.”

“In case of a conflict of interest issue, the board would review the situation. There are no known conflicts of interest for the current tax year.”

“The organization uses independent persons and contemporaneous substantiation to determine salaries.”

“The organization will provide a copy to persons making a written request.”

“The organization will provide its exemption applicaton including supporting documentation and its annual return to any person who requests this information in writing. This information can be obtained in the form of pdf documents.”

“Springboard cdfi is a 501(c)3 nonprofit corporation incorporated on february 25, 1982 with a mission to bridge the wealth gap in america by bringing scaled solutions and access to capital to underserved markets. Springboard cdfi has been in business for over 30 years and can walk first-time homebuyers through the process of purchasing a home, making sure they understand every step, and delivering loans at the best rates and terms available. Springboard cdfi also operates as springboard home loans.”

“Through its combined products and services, springboard cdfi assisted 520 consumers in the homeownership process during the year. Springboard cdfi is a us treasury certified community development financial institution, providing down-payment, first mortgage, and closing cost loans for the primary benefit of low to moderate income (lmi) first-time homebuyers in communities generally underserved by traditional lenders. Springboard cdfi offers a variety of loan programs in partnership with financial institutions and other partners and also originates or services a variety of down-payment and special programs, either from its own funds, brokered through bank lending partners, or as the administrator on behalf of government or nonprofit entities. The loan assets of springboard cdfi were originated under the following programs: cost assistance support for homebuyers (neighborworks america): this loan program provides down-payment and closing cost assistance for qualifying first-time homebuyers who have some liquid assets, but still need additional funds. Springboard cdfi charges a low fixed interest rate under this program whereby these loans are fully amoritized with ten-year terms and can be deferred for up to five years based upon the borrower's ability to pay. Calhome: calhome loan funds allow first-time homebuyers earning less than 80% of area median income to obtain fully deferred down-payment loans at 3% interest. Repayment of these loans is deferred until the sale or refinancing of the property.”

“No change from the prior year.”