Eligibility Requirements

Borrowers

• All borrower’s must be at least 62 years of age and a citizen or legal resident. The older you are, the more funds you may be eligible to receive. 

• There are programs available for borrowers as young as 55.

• All borrowers must be on the deed.

• Must not be delinquent on any federal debt.

• Must have at least 50% equity in the property.

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Property

• Property must be owner-occupied, primary residence.

• Single family home

• Condominiums and PUD/ Townhomes

• Manufactured homes

•  Vacation homes or rental properties are not eligible.

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Financial

• You must show the financial ability and willingness to meet your loan obligations, which include paying property taxes, insurance, and keeping up with regular home maintenance and repairs.