Loan Products
Home Improvement Loans for Owner-Occupants
Home Improvement Loans are available to residents of Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida and Power Counties, with special emphasis on low-to-moderate income applicants who earn less that 115% of area median income (as shown on the scale below). Interest rates are contingent upon income level.
Current Home Improvement Loan Income Limits – Household Size
NeighborWorks® Pocatello can facilitate your Home Improvement loan from start to finish. We not only provide the financing, we help you through the contractor procurement process and we help you identify hidden health and safety issues in your home.
Down Payment/Closing Cost Assistance
- Must be in Bannock, Bear Lake, Bingham, Bonneville, Caribou, Franklin, Jefferson, Oneida, Fremont, Madison or Power Counties
- Household income limited to $170,000
- Liquid Assets less than $25,000 at the time of closing
- Borrower does not have to be first time homebuyer
- HomeBuyer Education class offered by NeighborWorks® Pocatello must be completed
- Borrower to contribute $500 of their own money (earnest money can satisfy this requirement)
- Loan will not satisfy the 3.5% down required for FHA 1st mortgage loans, but can cover closing costs
- DTI (Debt to Income) 50%
- No late payments in last 12 months
- Homeowner Occupied 1-4 units
Some restrictions apply in secondary financing for down payment, please contact our office at (208) 232-9468 for additional information.
