Loan Products

HOME IMPROVEMENT LOAN

Home Improvement Loans are available to residents within the city limits of Pocatello, with special emphasis on low-to-moderate income applicants who earn less that 80% of area median income (as shown on the scale below). On an exception basis, these loans can be provided to residents who live outside one of the six neighborhood as long as the home is inside the Pocatello city limits. Interest rates are contingent upon income level and will run from 1% to 4%. (APR 1.942 to 4.576)

PNHS will facilitate your Home Improvement loan from start to finish. We not only provide the financing, we secure the bid 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. All recipients of PNHS Home Improvement loans must complete a three hour long homeownership class.

Click here for more information about our home improvement loan program.

OTHER LOAN PROGRAMS OFFERED by PNHS

Closing Cost Assistance

•Must be in Bannock County

•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 PNHS must be completed
•Borrower to contribute $500 of their own money

•Funds (Earnest money can satisfy this requirement)
•Unable to offer this assistance behind an FHA loan

Down Payment Assistance

• Must be in Bannock County

•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 PNHS must be completed
•Unable to offer this assistance behind 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

• IHFA Preferred Loan Program: New Program where homebuyers can borrow up to 97% with little or no PMI. PNHS can close most of the gap by providing the down payment and/or closing cost assistance.Buyers must provide $1,000 toward purchase.
•Conventional Loans: PNHS can provide up to 5% down and all closing costs. Buyers must provide $1,000 toward purchase.
• FHA LOANS: Assistance available here as well, but borrower must have 3.5% of their own funds.

2013 Income Limits for Bannock County

*Borrower(s) cannot EXCEED these amounts*

1 Person

2 People

3 People

4 People

5 People

6 People

7 People

8 People

80% of Median Income

$31,950

$36,500

$41,050

$45,600

$49,250

$52,900

$56,550

$60,200

115% of Median Income

$45,929

$52,469

$59,010

$65,550

$70,797

$76,044

$81,291

$86,538

No late payments in Last 12 Months
DTI (Debt to Income) 31%/41%

Terms of Down payment closing cost loans are as follows:

Amortizing/length of loan 360 months
Interest rate 4%
APR 4.00%