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 Home Equity
 Second Mortgage
 Home Improvement
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Home Improvement Loans

Home Improvement Loans are for individuals requiring funds for home improvement, but who have little or no equity in their property or who live in a state where equity loans are very limited. If you have some equity in your home you may want to consider refinancing for your home improvements. Home Improvement Loans bear a higher interest rate than other loan types available.

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.

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.

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. Examples: structural additions/alterations, roofing, insulation, etc


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