The program in a nutshell:

• CHAMP = Creating Housing Affordable Mortgage Program
• A flexible loan program for landlords in Connecticut and Rhode Island
• Offers below market interest rates for purchase and rehabilitation of vacant properties in Dime Bank's current CRA assessment areas. 
• This program is singly focused on helping landlords succeed and, at the same time, helping them build & offer more affordable rental units for low- and moderate-income populations
• Up to 90% financing available

Program highlights include:

• Dime Bank will provide financing at below-market rates
• Fixed term of 10 years, after which the loan reverts to the current market rate
• Maximum term is 26 years including, as needed, up to 1st year construction phase
• Loan amounts up to $500,000, with possible increases at Dime Bank’s sole discretion
• Eligible properties include 2-4 family homes, and must be vacant at time of purchase. Dime Bank may consider 5 or more unit properties on a case-by-case basis but these would be considered a commercial loan.
• No application fee
• Please contact one of our team members to learn more about this program

We want to make a difference in affordable housing

• Dime Bank is dedicated to meeting the housing needs of the low- and moderate-income population in our community
• If you are an experienced landlord who would like to partner with us in this effort, please contact us for more details

We want to help you realize your dreams

At Dime Bank, we strive to be the best community bank in Connecticut and Rhode Island by helping you realize your financial goals…

Dime’s full line of Loan Products – home mortgages, equity lines, personal loans, and more – are part of the plan. Whether you are buying a new home, tackling a major renovation, buying that new car, or pulling off the perfect wedding, we have a range of custom-designed loan products to meet your specific needs and help make your dreams come true.