Program Description

The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. Lending institutions make loans from their own funds to eligible borrowers to finance these improvements.

Program Requirements

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.

Additional Information

Additional Information
Max Loan Length20 years
Interest RateMarket
Max Loan Amount$25,000 for one property, up to $60,000 for multiple units
Payment FrequencyMonthly
Prepayment PenaltiesNot permitted
Loan Categories
House loans
Housing Loans