Home Improvement Loans

A home improvement loan is a low cost, tax deductible way to make your home look the way you have always dreamed about while increasing the value of your property at the same time. There are typically no restrictions for home improvements, as long as they are within the guidelines of local building codes. You also have the choice of doing the home improvement work yourself, or using a contractor. 

With a home improvement loan, you get a fully amortized fixed rate loan which is placed in second position on the title of your home. This type of home improvement loan is usually paid to you as a lump sum. Another option is a line of credit on your home, which is based on a variable rate and offers you the ability to draw money as you need it. 

There is no change in the term of your existing first mortgage when you take out a home improvement loan. You have a choice of loan terms from 5 to 30 years in most cases. If you have an existing home equity loan it must be paid off with the proceeds of the home improvement loan.  

There is also NO EQUITY needed for a home improvement loan. The maximum loan amount can go as high as 125% of the current appraised value of your home in most states. Check with your local USFS loan officer for the complete program details in your State. 

For more information, please contact a local USFS loan officer toll free at 1-866-312-6200 to start your application today or complete the short online application for immediate action.