Title I Property Improvement Loan

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No appraisal, no qualifying, do anything you want with the money. That’s what the FHA Title I program offers homeowners, including landlords who own single family and up to five-unit multifamily properties.

In an effort to improve the housing stock by financing “needed repairs” on property, FHA established this program. You need not have perfect credit, you need not have any equity in the property and still the government will insure a loan for fix-up and remodeling.

What's Eligible | Top | Apply Now |

Just about any remodeling project qualifies except luxuries such as swimming pools, hot tubs, tennis courts and moveable items such as refrigerators, satellite dishes, and window air conditioning units. On the other hand, updating a kitchen or bathroom, adding a room, finishing a basement, or painting the outside would all qualify.

Title I 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.

Those improvements can include and are not limited to:

• Carpet, Tile, Hardwood flooring
• Air conditioning & Heating
• Paint and wallpaper
• Roof repairs & replacement
• Fences and walls
• Wiring
• Room remodels
• Room additions

Maximum Loan Amounts | Top | Apply Now |

The maximum loan amount is $25,000. The FHA Title I Home Improvement Loan is designed to finance specific improvement only as outlined by the Federal Housing Administration (FHA). Appraisals are needed only on loans over $15,000.

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, for which lenders charge interest at market rates. The interest rates are not subsidized by HUD, although some communities participate in local housing rehabilitation programs that provide reduced-rate property improvement loans through Title I lenders.

Non-Owner Occupants | Top | Apply Now |

Unlike most other FHA programs, this one is available to non-owner occupants. In fact, the same rules apply as for owner occupants. The only difference is the maximum loan amount on multi-family properties is $60,000, or an average of $12,000 per unit, whichever is less.