Chattanooga Neighborhood Enterprise (CNE) assists many homeowners with rehab and repair projects, underscoring its commitment to strengthening communities and improving the health and livability of homes for people living in Chattanooga.
CNE currently offers home improvement loans to Chattanooga homeowners who qualify. These low interest loans can be used for repairs including roof repair, interior and exterior repairs, foundation repairs, HVAC repair or replacement, and electrical and plumbing repairs. A homeownership rehab project may also include lead abatement, and if applicable, the lead abatement portion is a grant to the homeowner.
“By helping owners rehab and repair their homes, CNE achieves a number of community development goals, including helping owners improve their homes’ energy efficiency. This results in lowering costs and improving the livability and healthfulness of their homes,” said Martina Guilfoil, president and CEO of CNE.
CNE offers the program through the City of Chattanooga CDBG program funding to make affordable loans to provide homeowners the ability to make home repairs or improvements. In order to qualify, homeowners must live in the City of Chattanooga; the home must be their primary residence; and applicants are subject to income limitations.
As a member the NeighborWorks network, a group of more than 245 community development nonprofits doing business throughout the United States, CNE contributed to more than 7,700 owners receiving rehab help in 2015. Importantly, homeowners who engage CNE and other NeighborWorks network organizations often connect with loan and grant products that could make the cost of significant rehab work more affordable than what’s available from traditional lenders.
“CNE is committed to helping lower income owners realize sustainable homeownership,” Homeownership Center Manager Carolyn Burke said. “On one hand we support sustainability by helping existing owners rehab and repair their homes. On the other hand, our sustainable homeownership efforts involve helping buyers understand the mortgage process. That understanding includes: shopping for the right mortgage, working with a home inspector to be as aware as possible about the potential problems, and offering guidance on choosing a qualified contractor to avoid home improvement scams.”
For information on how CNE can help homeowners affordably rehab and repair their homes, contact CNE at (423) 756-6201 or info@cneinc.org.