Community Housing Initiative, Inc.
Community Housing Initiative, Inc. (C.H.I.) is a non-profit corporation established in 1992 with a primary purpose to operate for the advancement of affordable housing. Our mission is: As a not-for-profit charitable development corporation, Community Housing Initiative, Inc. is committed to providing affordable housing to the very low, low, and moderate-income households. Our goal is to improve the quality of life and build strong relationships with existing service organizations in the communities we serve. We will pursue the education of communities in an attempt to increase public awareness of the need for affordable housing.
Currently, C.H.I. is involved in home ownership and multi-family rentals. C.H.I. administers a down payment assistance program for the cities of Melbourne and Palm Bay and Brevard County. These programs assist first time homebuyers with down payment, closing costs and rehabilitation funds. C.H.I. utilizes State Housing Initiatives Partnership (SHIP) funds and HOME Investment Partnership (HOME) funds. C.H.I. has directly assisted 858 first time homebuyers with its down payment/ closing costs assistance program (as of December 31, 2016).
As a developer, C.H.I. built 26 single family homes in the cities of Melbourne and Cocoa that were sold to income eligible first time homebuyers. C.H.I. partnered with the City of Melbourne in the Neighborhood Stabilization Program. C.H.I. purchased, renovated and sold 21 foreclosed properties in Melbourne.
C.H.I. has been designated as a Community Housing Development Organization (CHDO) by Brevard County and the Florida Housing Finance Corporation. In this capacity, C.H.I. pursues partnerships with other local nonprofits that may be in need of affordable housing. C.H.I. has served in this capacity several times in the past. We partnered with ARC Brevard to act as the developer in the acquisition/renovation of 2 six-bedroom group homes. C.H.I partnered with PREVENT! Of Brevard and the Coalition for the Hungry and Homeless to act as the developer in the acquisition/renovation of a transitional single-family property.
C.H.I. is a HUD approved Housing Counseling Agency. As such, we conduct many types of counseling services; pre-purchase counseling, pre-purchase group education, rental counseling and, homeowner improvement/maintenance counseling.
C.H.I. targets clients that are traditionally excluded from directly accessing private sector financing opportunities due to:
Homebuyer Education Workshop:
C.H.I. administers this workshop on a monthly basis. The cost for the workshop is $50 per person or $75 per household. However, for applicants going through the assistance program, this will be credited back to the homebuyer on the Closing Disclosure (CD) at closing. C.H.I. will bring a check (made payable to the title company) for the cost of the workshop. It will show on the CD as a credit to the homebuyer.
The workshop provides potential buyers information on: repairing credit; budgeting; income and debt ratios; pros and cons to homeownership; realistic purchase price and monthly payments; fair housing issues; negotiating the sales offer; home inspections; property maintenance; property insurance; various types of financing options; how to apply for down payment assistance programs and foreclosure prevention.
C.H.I. invites industry professionals such as guest speakers. The workshop educates potentials buyers on: how to search for a home; how to complete a sales contract; what price should be offered; what to expect from a lender; understanding lender fees; understanding the Good Faith Estimate, the Truth in Lending Document and mortgage documents; foreclosure prevention; hurricane mitigation; and the rights and responsibilities of the new homeowner.
The Workshop is offered at a minimum of once per month. If the need arises, Community Housing will conduct additional classes. Additionally, one of C.H.I.’s housing counselors is bilingual. As the need arises, the workshop can be administered in English and/or in Spanish. The workshop is held at C.H.I.’s office, located at 3033 College Wood Drive, Melbourne, FL 32934.
Our program has been designed to remove these obstacles to home ownership and begins with a homebuyer education class. The class covers the following topics:
I. Fair Housing
II. Advantages and Disadvantages to Homeownership
III. What Can I pay for a Home & Budgeting
VII. The Closing Process
Willow Brook Village
Under the rental operation, C.H.I. owns an apartment complex in Melbourne, Willow Brook Village. Willow Brook Village is a fifty-six unit garden style apartment complex located in Melbourne, Florida. Willow Brook was financed through Florida Housing Finance Corporation's State Apartment Incentive Loan (SAIL) Program.
Willow Brook contains seven, two-story buildings. There is a total of twenty-four (24) two bedroom units and thirty-two (32) three bedroom units. One apartment per building has been constructed as a handicapped accessible unit. The two bedroom units contain a living / dining area, kitchen, 2 bedrooms, 2 bathrooms and a utility room, for a total of 1000 square feet. The three bedrooms consist of a living / dining area, kitchen, 3 bedrooms, 3 bathrooms and a utility room for a total of 1125 square feet. Each unit comes with a range, refrigerator, carpet, mini-blinds, air conditioning equipment, garbage disposal, bath and kitchen exhaust fans and laundry hook-up. The units have gas heat and cooking.
Rental Structure:
At Willow Brook, there are two rental rates in effect. One rate is for individuals and/or families earning forty percent (40%) or less of the area median income adjusted for family size. The second rate is for individuals and/or families earning sixty percent (60%) or less of the area median income adjusted for family size. Currently, the rental tiers are as follows:
Willow Brook Village Home Ownership Program
As part of the continuing mission to advocate affordable housing, both rental and homeownership, C.H.I. (herein referred to as the "Owner") will set aside five (5) percent of the monthly rent in a down payment assistance fund to be used by the qualified resident in good standing for the purchase of a home.
Currently, C.H.I. is involved in home ownership and multi-family rentals. C.H.I. administers a down payment assistance program for the cities of Melbourne and Palm Bay and Brevard County. These programs assist first time homebuyers with down payment, closing costs and rehabilitation funds. C.H.I. utilizes State Housing Initiatives Partnership (SHIP) funds and HOME Investment Partnership (HOME) funds. C.H.I. has directly assisted 858 first time homebuyers with its down payment/ closing costs assistance program (as of December 31, 2016).
As a developer, C.H.I. built 26 single family homes in the cities of Melbourne and Cocoa that were sold to income eligible first time homebuyers. C.H.I. partnered with the City of Melbourne in the Neighborhood Stabilization Program. C.H.I. purchased, renovated and sold 21 foreclosed properties in Melbourne.
C.H.I. has been designated as a Community Housing Development Organization (CHDO) by Brevard County and the Florida Housing Finance Corporation. In this capacity, C.H.I. pursues partnerships with other local nonprofits that may be in need of affordable housing. C.H.I. has served in this capacity several times in the past. We partnered with ARC Brevard to act as the developer in the acquisition/renovation of 2 six-bedroom group homes. C.H.I partnered with PREVENT! Of Brevard and the Coalition for the Hungry and Homeless to act as the developer in the acquisition/renovation of a transitional single-family property.
C.H.I. is a HUD approved Housing Counseling Agency. As such, we conduct many types of counseling services; pre-purchase counseling, pre-purchase group education, rental counseling and, homeowner improvement/maintenance counseling.
C.H.I. targets clients that are traditionally excluded from directly accessing private sector financing opportunities due to:
- Income status as low or very-low
- Insufficient resources to save for a down payment
- Imperfect credit histories
- Lack of understanding the home buying process
Homebuyer Education Workshop:
C.H.I. administers this workshop on a monthly basis. The cost for the workshop is $50 per person or $75 per household. However, for applicants going through the assistance program, this will be credited back to the homebuyer on the Closing Disclosure (CD) at closing. C.H.I. will bring a check (made payable to the title company) for the cost of the workshop. It will show on the CD as a credit to the homebuyer.
The workshop provides potential buyers information on: repairing credit; budgeting; income and debt ratios; pros and cons to homeownership; realistic purchase price and monthly payments; fair housing issues; negotiating the sales offer; home inspections; property maintenance; property insurance; various types of financing options; how to apply for down payment assistance programs and foreclosure prevention.
C.H.I. invites industry professionals such as guest speakers. The workshop educates potentials buyers on: how to search for a home; how to complete a sales contract; what price should be offered; what to expect from a lender; understanding lender fees; understanding the Good Faith Estimate, the Truth in Lending Document and mortgage documents; foreclosure prevention; hurricane mitigation; and the rights and responsibilities of the new homeowner.
The Workshop is offered at a minimum of once per month. If the need arises, Community Housing will conduct additional classes. Additionally, one of C.H.I.’s housing counselors is bilingual. As the need arises, the workshop can be administered in English and/or in Spanish. The workshop is held at C.H.I.’s office, located at 3033 College Wood Drive, Melbourne, FL 32934.
Our program has been designed to remove these obstacles to home ownership and begins with a homebuyer education class. The class covers the following topics:
I. Fair Housing
II. Advantages and Disadvantages to Homeownership
III. What Can I pay for a Home & Budgeting
- Creating your budget
- Credit Reporting Bureaus
- Ability to manage your credit
- Qualifying Ratios
- How a real estate professional can help you.
- Negotiating the offer
- Submitting the offer and what is included in the offer
- Importance of good credit
- Qualifying ratios
- Lender costs: credit report, appraisal fees, and other fees
- Information required by the lender
- Types of mortgages
- Closing Costs Worksheet and other lender documents
VII. The Closing Process
- What does a title company do?
- What to expect from your closing agent
- Title search and title insurance
- Title policy
- Closing Disclosure (CD)
- Mortgage Note and Deed
- What to expect at the closing table
- How long does closing take?
- Who will attend the closing?
- Examples of forms you will be signing
- What is foreclosure?
- Steps to prevent foreclosure
Willow Brook Village
Under the rental operation, C.H.I. owns an apartment complex in Melbourne, Willow Brook Village. Willow Brook Village is a fifty-six unit garden style apartment complex located in Melbourne, Florida. Willow Brook was financed through Florida Housing Finance Corporation's State Apartment Incentive Loan (SAIL) Program.
Willow Brook contains seven, two-story buildings. There is a total of twenty-four (24) two bedroom units and thirty-two (32) three bedroom units. One apartment per building has been constructed as a handicapped accessible unit. The two bedroom units contain a living / dining area, kitchen, 2 bedrooms, 2 bathrooms and a utility room, for a total of 1000 square feet. The three bedrooms consist of a living / dining area, kitchen, 3 bedrooms, 3 bathrooms and a utility room for a total of 1125 square feet. Each unit comes with a range, refrigerator, carpet, mini-blinds, air conditioning equipment, garbage disposal, bath and kitchen exhaust fans and laundry hook-up. The units have gas heat and cooking.
Rental Structure:
At Willow Brook, there are two rental rates in effect. One rate is for individuals and/or families earning forty percent (40%) or less of the area median income adjusted for family size. The second rate is for individuals and/or families earning sixty percent (60%) or less of the area median income adjusted for family size. Currently, the rental tiers are as follows:
Willow Brook Village Home Ownership Program
As part of the continuing mission to advocate affordable housing, both rental and homeownership, C.H.I. (herein referred to as the "Owner") will set aside five (5) percent of the monthly rent in a down payment assistance fund to be used by the qualified resident in good standing for the purchase of a home.
