What are the qualifications for HFLA’s loan programs?
April 11, 2022
|By hflaneo
There are a few minimum qualifications for all HFLA loans. If the applicant does not fit all 4 of these requirements, we cannot consider them for an interest-free loan.
- The individual must be a resident of Northeast Ohio (Cuyahoga, Geauga, Lake, Lorain, Mahoning, Medina, Portage, Summit and Trumbull counties).
- The individual must have an income and demonstrate their ability to repay the loan.
- The applicant must apply with a guarantor or co-signer (for standard and education loans only). In certain cases the guarantor may be waived.
- The applicant must be unable to access a conventional bank or credit union loan with reasonable interest rates.
Other general qualifications can be found on the loan type webpages.
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