Making improvements to your home can increase its value and allow you to adapt it to meet your changing needs. A home improvement loan home improvement loan is like an investment in an investment! You should consider a home loan if your home needs structural repairs or enhancements. Keep in mind that funds cannot be used for luxury items. They must be used for improvements that protect or improve the basic livability or utility of the property, for example: structural additions/alterations, roofing, insulation, etc. With that being said, it’s wise to mention that if you have some equity in your home you may want to consider refinancing for your home improvements, as these loans carry higher interest rates.

Home Improvement ? Title 1
You can borrow up to 150% of the value of your home. Get those much needed improvements done to your home with one low payment. Anything from room additions to a new roof. A home improvement loan can turn your dreams a fast reality. With a Tile l Home Improvement loan you can accomplish this without any equity. 

Pros

• Available even if you donít have much equity
• The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment

Cons

• Title I loans bear a higher interest rate than other loan types available
• A borrower's total fixed expenses cannot exceed 45 percent of gross income. This includes debt for such items as cars, houses, credit cards, and various types of other loans. It does not include such items as food and utilities.

 Who Qualifies?

• Borrower must have at least a one-half owner interest in the property or have a long-term lease and be an acceptable credit risk.