Look to FHA When Your Bank Says No to Home Improvement Loan – Boston Mortgage

It’s common to be turned down for a home equity line (HELOC) or a second mortgage when your ordinary bank in Boston has limited loan packages available. The FHA Title 1 Home Improvement Loan. No appraisal is required, and no seasoning on the property (you only have to have occupied it for 90 days). If you have good credit, you can get a 20year fixed rate for up to $25,000 for siding, solar panels, Title V or anything your imaginatin can apply to improving your home. If it’s a multifamily structure – you can borrow an average of $12,000 per living unit, up to a total of $60,000

Phil Ganz (354 Posts)

Philip D. Ganz is a Boston Mortgage Broker and Boston Home Loan specialist. For information, expertise, consulting, or advice about home loans, refinancing mortgages, or commercial property loans, contact Phil with no obligation: 617-529-9317

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