Residential Revolving Loan Fund

Chesterfield County's Residential Revolving Loan Fund

  • This Fund, in partnership with Virginia LISC, provides nonprofit or for-profit developers and builders the option of low-interest financing for the acquisition, rehabilitation, or construction of affordable housing in the County.
  • The Fund supports projects that create affordable housing opportunities, healthier neighborhoods, and a higher quality of life for low-and-moderate income families.
  • Down payment and closing cost assistance are also available for home buyers in this program through a nonprofit partner, Housing Opportunities Made Equal.

Loan Terms

  • Up to $300,000 maximum loan amount
  • 3% fixed annual interest rate
  • Loans have a 3-year term
  • A deed of trust is required on acquired properties

Eligible Activities

  • Acquisition
  • Rehabilitation
  • Construction

Eligible Homes

  • Located within Chesterfield County
  • Housing Type: single-family, condos, and town homes (for sale or for rent) and small rental projects (two to four units)

Interested in Participating?  

Virginia LISC will be conducting the application intake, loan underwriting and fund management for the Revolving Loan Fund. If you are interested in applying to receive funding through the Residential Revolving Loan Fund, please contact Schirra Hayes at Virginia LISC for application information.

Contact 

Email Schirra Hayes  
Virginia LISC
804-505-4165 ext. 2

Email Dan Cohen
Chesterfield County Department of Community Enhancement
804-748-1500