The Authority seeks indications of interest from banking institutions who might consider working with CHESLA to 1) develop and implement a financing vehicle(s) (with both taxable and tax-exempt options) to originate and finance CHESLA Refi CT loans or 2) directly originate CHESLA Refi CT loans, as more fully described below. CHESLA Refi CT loans are credit based loans offered to eligible borrowers and co-signors provided they 1) are at least the age of majority or older at the time of the application, 2) are a U.S. citizen or permanent resident, 3) reside in the U.S at the time of the application, 4) are a Connecticut resident or are refinancing a CHESLA loan, 5) have monthly installment payments amounting to 43% or less of monthly gross income (debt-to-income ratio), and 6) have an acceptable FICO score per TransUnion. Additional information on Refi CT is provided in the Appendix.
