Home Improvement Loans
Home Improvement Loans are available to residents of Bannock County, with special emphasis on low-to-moderate income applicants who earn less that 80% of area median income (as shown on the scale below). Interest rates are contingent upon income level.
NeighborWorks® Pocatello can facilitate your Home Improvement loan from start to finish. We not only provide the financing, we can secure bids from contractors who are licensed, bonded and insured and carry all applicable environmental certifications. Additionally, we help you identify hidden health and safety issues in your home.
Rental Rehab Loans
Rental Rehab Loans are available to non-owner occupants who own rental properties anywhere within the City of Pocatello. Thanks to a partnership with the Housing Authority of the City of Pocatello, this program is possible. The applicant (landlord) does not need to meet certain income requirements; however, they must agree to advertise vacancies, as they occur, with the Housing Authority of the City of Pocatello.
Other Loan Programs Offered by NeighborWorks® Pocatello
Closing Cost Assistance
- Must be in Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida, or Power Counties
- Income limited to 115% of median income (based on household size)*
- Liquid Assets less than $5,000
- 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 must be conventional and not an FHA loan
Down Payment Assistance
- Must be in Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida, or Power Counties
- Income limited to 115% of median income (based on household size)*
- Liquid Assets less than $5,000
- Borrower does not have to be first time homebuyer
- HomeBuyer Education class offered by NeighborWorks® Pocatello must be completed
- Loan must be conventional and not an FHA loan
Some restrictions apply in secondary financing for down payment, please contact our office at (208) 232-9468 for additional information.
Gap Financing for Qualified Buyers
- Conventional Loans: NeighborWorks® Pocatello can provide up to 5% down and all closing costs. Buyers must provide $500 toward purchase.
- FHA LOANS: Assistance available here as well, but borrower must have 3.5% of their own funds.
Current Income Limits for Bannock, Bingham, and Power Counties
*Borrower(s) cannot EXCEED these amounts*
Owner Occupied Home Rehabilitation Loans
| Home Improvement Loan | 1 Person | 2 People | 3 People | 4 People | 5 People | 6 People | 7 People | 8 People |
| Bannock Co. | $35,250 | $40,250, | $45,300 | $50,300 | $54,350 | $58,350, | $62,400 | $66,400 |
| Bingham Co. | $34,850 | $39,800 | $44,800 | $49,750 | $53,750 | $57,750 | $61,700 | $65,700 |
| Power Co. | $34,800 | $39,800 | $44,750 | $49,700 | $53,700 | $57,700 | $61,650 | $65,650 |
Current Income Limits for Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida, and Power Counties *Borrower(s) cannot EXCEED these amounts*
Down Payment/Closing Cost Assistance Loans
| Location | Up to 4 People | 5 People | 6 People | 7 People | 8 People |
| Bannock Co. |
$72,335 | $78,142 | $83,950 | $89,700 | $95,508 |
| Bear Lake Co. | $71,415 | $77,165 | $82,858 | $88,608 | $94,300 |
| Bingham Co. | $71,530 | $77,280 | $83,030 | $88,723 | $94,473 |
| Caribou Co. | $71,990 | $77,798 | $83,548 | $89,298 | $95,048 |
| Franklin Co. | $79,120 | $85,503 | $91,828 | $98,153 | $104,478 |
| Oneida Co. | $71,415 | $77,165 | $82,858 | $88,608 | $94,300 |
| Power Co. | $71,415 | $77,165 | $82,858 | $88,608 | $94,300 |
No late payments in Last 12 Months
DTI (Debt to Income) 31%/41%
