Financing and Mortgage Lending

Emergency Repair Loans


  • Generally a $3,000.00 limit or higher if approved by our loan committee

  • Property must be in the NTR service area 

  • Loans will be secured by a promissory note and a recorded mortgage

  • No emergency loan will exceed sixty (60) months.

  •  Loan interest rates are subject to market conditions

  • Mechanical systems must meet building code requirements or necessary improvements may be included​

  • Loan purpose must be to immediately correct an emergency situation which threatens safety, sound or sanitary living conditions.

Mortgage Financing


  • Property must be owner-occupied, single, double or up to four family residential property

  • Applicant must reside in property min 1 year

  • Loan must be secured by a first or second mortgage

  • Property must meet minimum code standards after rehab


Loan Terms

No minimum loan amount, terms up to thirty years, financing up to 105% of total loan-to-value, no prepayment penalty, escrow provided for purchases loans over $3,000


Qualifying Ratios

Mortgage payment can not exceed 36% gross monthly income or 45% including other debt obligations


Credit History

Applicants must demonstrate "sound" credit history


Information and Fees

Applicant must provide appraisal, credit report, and title insurance costs - other fees may be paid out of loan proceeds

Second Mortgage are for the purpose of owner-occupied rehabilitation only or to eliminate mortgage insurance premiums.

*All loans are presented to the Loan Committee for approval.