Enaadmaagehjik
o/a Wikwemikong Development Commission
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?
Eligibility
- 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 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