FHA Title-One Home Improvement Loans
Your house is not just a home — it’s one of your most valuable assets. Investing in Home Improvements is both personally and financially rewarding. When you need a MN Home Improvement loan to make it happen, Western Construction, Inc. can help.
In addition to offering traditional financing options, Our Banking partner is the only nationally approved lender of FHA Title-One Home Improvement Loans. This special government insured program is designed to offer new home owners and those with little or no equity in their homes an opportunity to affordably finance repairs and MN Home Improvements.
Do I Need Equity To Get Approved?
If you own a home, it doesn’t matter how much or how little equity you have in it. The FHA Title-One Home Improvement program allows you to finance your project without any equity or appraisal.
Our Banking partner is one of the largest originators of Title-One Home Improvement Loans in the country. Their professional staff of loan officers are trained to provide prompt and personalized service. We’ll process your loan quickly and get the cash you need to start your project right away.
- Loans are approved within 12 hours
- Finance projects in just 3-4 days
- No equity required
- No appraisal necessary
- Obtain up to $25,000 for a single family home (up to $12,000 per unit, up to $60,000 for a five-unit property)
- Low fixed rates
- Flexible payment terms of with no prepayment penalties
- Interest may be tax-deductible (consult a tax adviser)
FHA Title-One Home Improvement Loan
Q. Can we use the FHA Title-One Loan for any Home Improvement?
A. Just about. Out-and-out luxuries (like a built-in swimming pool) aren’t allowed. But just about anything else is.
- Build a attached or detached garage
- Replace your old drafty windows with new energy efficient Replacement Windows
- Upgrade an existing bathroom
- Add a bathroom
- Finish an attic or basement
- Install dormers
- Build an addition
- Install a walkway or driveway
- Build a new Porch
- Install new vinyl, James Hardi or LP Smartside siding
- Replace a roof
- Remodel the kitchen
Q. How much can we borrow For Home Improvements?
A. Up to $25,000 for a one family house. Up to $60,000 for a multi-family dwelling of five units or more.
Home Type Maximum Loan
1 family $25,000
2 family $24,000
3 family $36,000
4 family $48,000
5 family $60,000
Q. Is this FHA Title-One Home Improvement loan tax-deductible?
A. Current tax law treats this loan just like a home mortgage loan. Interest charges may be 100% tax-deductible (consult your tax adviser)
Q. Must the Home Improvement work be completed before we get the loan?
A. No. You get all your money before you start the work.