Homeownership Investment Fund

Homeownership Investment Fund

What is HIF?

  • In 2013 Wiikwemkoong Unceded Territory (WUT) and Enaadamaagehjik began as a pilot project initiative called “Housing as a Business (HaaB)”.
  • In cooperation with Axiom Management & Consulting drafted a complete business plan developed for Wiikwemkoong’s new mortgage lending program.
  • In 2015, HaaB became Wiikwemkoong Homeownership Investment Fund (HIF) and began providing mortgage loans to Wiikwemkoong Band Members.

Are You Eligible?


  • Band Member 18 years or older
  • Moderate debt load
  • No debt with W.U.T or W.D.C.
  • Employment Income (min 2 yrs)

Is Home Ownership for You?

  • Have you done your research?
  • Do you have the 5% down payment
  • Do you have financial stability?
  • Are you ready for cost involved with homeownership?

What is a Mortgage

A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments.

Mortgage Checklist

What Does HIF Fund?

It funds single- family homes located in Wiikwemkoong

  • Maximum mortgage amount $400,000
  • Down Payment of 5%
  • Must be built by general contractor that has WSIB and liability insurance.
  • Confirmation of land ownership
  • Maximum mortgage amount $400,000
  • Seller must have appraisal and inspection done on home before selling
  • Home must not have any liens
  • Down payment of 5%
  • Renovation can be included with purchase price, done by general contractor with WSIB and liability insurance
  • Maximum mortgage amount of $75,000, minimum of $5,000
  • Owner must have home insurance
  • Home appraisal to establish equity
  • General Contractor with WSIB or Liability Insurance
  • Small Do-it Yourself projects on approval by WDC Board
  • Maximum mortgage amount $400,000
  • Renovations can be included minimum $10,000, max if $75,000
  • Must be done by a general contractor with WSIB and Liability insurance
  • Do-it yourself approved by WDC Board
  • Must have home Insurance

Benefits of HIF

  • Competitive Fixed Interest Rate
  • Your Investing in Your Own Community
  • Sense of Community Because You Own Part of It
  • Grow a Garden
  • Own Your Home
  • Fixed Interest Rates
  • Financial Stability Payment Remain Steady
  • Pride of Ownership
  • Design your own home
  • Live free no Restrictions
  • Location
  • Remodel as you see fit
  • Have property and home to pass down to your future generations.
  • “Your Home is Truly Your Castle”

Loan Process and Application

Step 1: Application

Step 2: Credit Check: Internal and external

Step 3: Documentation Gathered (Mortgage checklist)

Step 4: Appraisal Ordered by Homeowner

Step 5: Approval by WDC Board of Directors

Step 6: BCR from Chief and Council

Step 7: Last Will and Testament

Step 8: Land Transfer to WUIR

Step 9: Mortgage Loan Funded

Step 10: Mortgage Insurance Set up- Life of Loan

10 Steps to building your dream home
Client Consent to Access Info
HIF Mortgage Application Form