AAFE Community Development Fund

111 Division Street
New York NY, 10002


AAFE Community Development Fund (AAFE) provides financing and homeownership counseling primarily to Asian-American immigrants throughout New York City.

CDFI Awards for AAFE Community Development Fund


FA (2007) - $385,520

In 2000, the Asian Americans for Equity, Inc. created the Community Development Fund (AAECDF). AAECDF is a certified CDFI and offers an array of services to Asian Americans living in the New York City metropolitan area. It offers such services as: 1) second mortgage purchase loans; 2) First Home Club IDAs; 3) down payment assistance to first-time homebuyers; and 4) rehabilitation and emergency repair loans. AAFECDF will use its FY07 FA award for homeownership loans in its target market and its TA award for outreach, homeownership counseling, and marketing materials.



CORE (2000) - $700,000

The CDFI Fund"s $700,000 capital grant will assist the organization in providing second mortgage purchase loans, home repair loans, conversion loans, emergency repair loans, homeownership workshops in English, Chinese, and Korean, and one-to-one counseling in Hindi, Khmer, and Vietnamese.



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