Get Straight On the Right Home Improvement Loan Program

You can find a home improvement loan program that fits your needs if you shop around. FHA - Federal Housing Administration will often provide good home improvement loan programs to qualified seekers. Let's look at some possibilities that might work for you.

Most home improvement loan programs are designed for light to medium home repairs. If you plan to do improvements that will run less then $25,000 then you may qualify for a home improvement loan program from FHA. They will encourage light to medium repairs under their program and often will allow for small construction on a property in some cases.

If you are investing into multi family building like duplexes and such then the maximum amount is around $12,000 for a loan program. The nice thing is this amount is per unit and they will often allow you to finance repairs for up to 5 units or $60,000 total.

Most Federal Housing Administration home improvement loan programs require that you be HUD approved in order to acquire the loan. If you plan to improve a property that you do not reside in you may need to show proof that the current occupants will be reside in the home for at least another six months.

You can find good home improvement loan program information by shopping online at any of the more popular loan sites like e-loan. You may also be able to call local lenders to see what types of home improvement loan programs they offer. Realtors are another good source for home improvement loan information.

A home improvement loan program will work no matter if you are fixing the bathroom, repairing the porch or adding a pool. Shop around as it is a very competitive industry and everyone wants your business.


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