In Boise, most borrowers need to be 62+, live in the home as a primary residence, have meaningful equity (often ~50%+), and complete HUD counseling. You must also keep taxes, insurance, and maintenance current.

Quick Yes/No Checklist

• Age 62+? (Some proprietary programs may allow 60+.)

• Primary residence? You live there most of the year.

• Equity ~50%+? Enough to meet principal limit and pay off any existing mortgage.

• Property type eligible? Single-family, approved condo/townhome, some manufactured homes.

• Willing to complete HUD counseling? Required for HECM.

Property Types That Commonly Qualify

• Owner-occupied 1–4 unit homes (live in one).

• Many condos with the right approvals; some can be case-by-case.

• Manufactured homes must meet specific standards.

Financial Assessment (What Lenders Look For)

• History of paying property charges on time.

• Residual income to reasonably cover ongoing expenses.

• Review of debts and credit events (no perfect score required).

What If I Still Have a Mortgage?

Proceeds first pay off your existing balance; remaining approved funds become your LOC, monthly payout, or lump sum.

Boise-Area Edge Cases

• HOAs/condos: Get project docs early.

• Rural properties: Acreage is fine; appraisals must support value/marketability.

• Recent major repairs needed? Fix safety issues before appraisal.