The Island Loan Fund is not currently accepting new applications from prospective borrowers. All capital is currently loaned out. If you would like to invest in the Island Loan Fund, please click here.

If you want to buy a home on Orcas, but bankers have told you that you are not yet eligible for a mortgage loan or that the home you are hoping to buy is not “bankable,” then the Island Loan Fund may be for you. If you are creditworthy, but don’t yet fit into bank’s requirements, the Island Loan Fund could provide you with a mortgage loan and technical assistance to purchase a home. You may have too much student loan debt, be lacking a sufficient credit history, or wish to buy a property that does not yet meet bank standards.

Loans from the Island Loan Fund are typically for five years and the interest rate is slightly higher than a bank rate. During the term of your loan, you will work with OPAL staff to reach the point where you can refinance with a bank.

Our underwriting criteria are here.