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FHA Home Improvement Loan

 

 

The FHA Home Improvement Loan makes it easier for consumers to obtain affordable home improvement loans by allowing loans up to $25,000 without any equity in the home. In other words, the loan can exceed the value of the home.

The FHA Home Improvement Loan program insures loans to finance the light or moderate rehabilitation of properties, as well as the construction of nonresidential buildings on the property. This program may be used to insure such loans for up to 20 years on either single- or multifamily properties. The maximum loan amount is $25,000 for improving a single-family home or for improving or building a nonresidential structure.

 For improving a multifamily structure, the maximum loan amount is $12,000 per family unit, not to exceed a total of $60,000 for the structure. These are fixed-rate loans.

Eligible borrowers include the owner of the property to be improved, the person leasing the property (provided that the lease will extend at least 6 months beyond the date when the loan must be repaid), or someone purchasing the property under a land installment contract.

FHA Home Improvement loans may be used to finance permanent property improvements that protect or improve the basic livability or utility of the property--including manufactured homes, single-family and multifamily homes, nonresidential structures, and the preservation of historic homes. The loans can also be used for fire safety equipment.

When you are a homeowner it seems there is always something that needs repair or improvement. Our low-interest FHA Home Improvement loan can finally make those improvements you've been dreaming about for years affordable. See our rate page for current information and then use the loan calculator feature to figure your monthly payment. You'll be sorry you waited so long!

Make your home your castle again with our FHA Home Improvement Loan. Eligible uses of funds include landscaping, installing air conditioning systems, new furnaces, new rooms, carpeting and more.


 
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OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE:
214-387-0683 EMAIL: info@brown-lending.com


 

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