Ways to Pay for your Remodel

Those who wish to remodel can make use of FHA-insured Title I loans for any improvements including appliances such as refrigerators and dishwashers. These loans are useful for improving the accessibility to kitchens and baths for the infirmed and the disabled. Your The FHA-insured Title I loans are a great way to pay for contractor's fees and material costs if you do-it-yourself. The Title I loan insurance program has many advantages, some are listed below:

• The loans are not dependent on your location.
• For loans below $7,500, you do not need to put up any security or present a co-signer.
• Your existing mortgage or deed of trust does not get affected.
• Your loan can cover architectural and engineering costs, building permit fees, title examination costs, appraisal fees, and inspection fees.
• The process is smooth with minimum fuss, the lender approves your loan and upon completion of work you need to provide them a completion certificate.
• FHA regulations ensure that the dealer who arranges the loan for you is approved by the lender.

qualifies as real property, you can get a loan of $17500 for a term of up to 15 years. Loan on a Manufactured (Mobile) Home that qualifies as Personal Property is up to $7500 for 12 years.

HUD provides a list of FHA-approved lenders in every state. Call the HUD Customer Service Center toll-free at 1-800-767-7468 (TTY: 1-800- 877-8339). Register your grievance regarding contractor fraud at the toll-free line 1-888-466-3487.

The Fair Housing Act assures you that you will be given an equal opportunity in housing and related transactions that cover mortgages and home improvement loans. Race, color, religion, sex, national origin, and familial status are not to be considered by lenders when assessing a loan application. If you feel that you have been discriminated against in a mortgage lending case, you can contact a local fair housing advocacy group or the Office of Human Rights for your state or local government.

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