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: ,' . <br /> � �Fede�'�l <br /> HomeLoanBanit, <br /> Of�'1Cd�0 "Hclping to House Amcrico" <br /> FACT Communityr In��estment Program (CIP) <br /> SHEET <br /> WHAT IS THE COM117UNITY INVESTMENT PROGRAM? <br /> The Communit��Im•estment Program(CIP)features belo�c market ad�•ances designed!o finance <br /> housing for low-and moderate-income households,or to.finance commercial and economic <br /> develupment projects that benefit loN�-and moderate-inrnme households and/or neighborhoods. <br /> VVHU HAS ACCESS TU THE F'UNDS? <br /> Financial institutions in Iliinois and V�'isconsin that hold stock in the Federal Home Loan Bank <br /> of Chicago. <br /> HU�ti' A'IAY THE FUNDS BE USED? <br /> Funds ma�� be used to: <br /> � • Finance home purchases b�•lamilies�•hose incomes do not exceed 115 percent of inedian <br /> income tor the area. • <br /> • Finance the purchase or rehabilitation of housing for rental b��tamilies���hose incomes do <br /> not exceed 115 percent of inedian inrnme for the area. <br /> • Finance commercial and economic de�elopment projects that benefit lo��-and moderate- <br /> income families or acti�•ities that are located in lo�r•-or moderate-income neighborhoods. <br /> V�'HAT ARE THE RATES? <br /> CIP ad�•ances are priced at the same rate as the Bank pa�•s tor its rnnsolidated obligations. <br /> VVHAT ARE THE TERA3S? � <br /> CIP ad��ances are arailabie in terms ranging lrom one month through ten years,with 15 or 20��ear <br /> maturities a�•ailable in special circumstances. � <br /> ,:.. .. . ._ �::..,_ : •. • " � • - - . . <br /> HOW ARE THE FUNDS MADE AVAILABLE? <br /> CIP funds are a�•ailable through ad�•ances to member financial institutions in lllinois and <br /> V�'isconsin that hold stock in the Federal Home Loan Bank olChicago in accordance�vith the <br /> Bank's most recent Credit Polic��guidelines. <br /> (orer) <br />