Borrower Requirements
- Must be Low to Moderate Income - Income is defined as having a household income of not more than 80% of Median income as defined by HUD
- Collateral is not a requirement, but may be requested for larger loans.
- For most products, credit does not need to be perfect but client will be required to take advantage of WORC's Technical Assitance Services to improve credit.
- Good credit is required for the Credit Line and for the Near Equity Loan Product
- Savings Plan required if credit problems exist - FSA Program/Credit Building Class Available
