Community Reinvestment Act Information
The Community Reinvestment Act encourages the development of low and moderate-income neighborhoods.
Long Grove Mortgage works with local lenders to foster revitalization and stronger economic futures for families, making our community better places to live and work.
If your property, or a property of interest to you is located in a Low to Moderate Income Track Assessment Area, you may have access to substantial interest rate reduction.
Determine Eligibility
Please feel free to reach out to the Long Grove Mortgage team to help determine if a property is in a LMIT (low to moderate income tract). We are here to help!
If you’d like to conduct your own research here is how!:
Go to the FFIEC.gov Geocoding System
Select the year 2021 from the drop down box. Enter the property address and click on “Search”
Click on “Census Demographic Data”
On the summary screen that appears, if the Tract Income Level states “low” or “moderate”, the property is considered to be in an LMITract.
On the summary screen that appears, if the Tract Income Level states “low” or “moderate”, click here to determine if the state and county are located in a Low to Moderate Income Track Assessment Area.
If the subject property is in a Low to Moderate Income Track Assessment Area, please take a screenshot of the FFIEC website, and send it to your loan associate, or to info@longgrovemortgage.com.