NWGF also has loans available to senior citizens for home improvements to make homes more livable for their later years. We can help you decide if a mortgage is the right thing to do.
Who is Eligible
To be eligible for a HECM loan:
-
you, and any other current owners of your home, must be aged 62 or older, and live in your home as a principal residence;
-
your home must be a single-family residence in a 1- to 4-unit dwelling, a condominium, or part of a planned unit development (PUD). Some manufactured housing is eligible, but cooperatives and most mobile homes are not (although some cooperatives may become eligible by the end of 2003);
-
your home must be at least one year old and meet HUD's minimum property standards, but you can use the HECM to pay for repairs that may be required; and
-
you must discuss the program with a counselor from a HUD-approved counseling agency. NWGF does not provide HECM loans, however, we do the mandatory 3rd party counseling session.
Call our office at 406-761-5861 or send email to info@nwgf.org. |
Anna's Story
Anna loved her old home and wanted to stay there. But she needed a main floor bathroom and laundry room since she could no longer handle stairs very well.
A renovation loan from NWGF
helped Anna make the bathroom
and laundry improvements,
plus other changes that
made the home safer and more comfortable.
Anna looks forward
to many years in her
long-time family home. |
