Sunday, May 26, 2024
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Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.
 
Phil Joseph
Branch Manager
Sr. Mortgage Loan Originator
Over 30 Years' Experience
Movement Mortgage 
Rancho Bernardo Branch
11770 Bernardo Plaza Court #451
San Diego California 92128

Direct: 619.507.3558
Fax: 858.430.2557
Email: Phil@PhilJoseph.com
Website: www.PhilJoseph.com
NMLS# 249549
 
Licensed in California by the Department  of Business
Oversight under the Residential Mortgage Lending Act 417-0015 
 
Movement Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom American Pacific has a business relationship. Equal Housing Opportunity.

FHA Property Improvement Loan Insurance

The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements.

Title I loans may be used to finance permanent property improvements that protect or improve the basic livability or utility of the property--including manufactured homes, single-family and multifamily homes, nonresidential structures, and the preservation of historic homes. The loans can also be used for fire safety equipment and to make improvements for accessibility to a disabled person such as remodeling kitchens and baths for wheelchair access, lowering kitchen cabinets, installing wider doors and exterior ramps, etc. Another use is energy conserving improvements or solar energy systems.

This program insures such loans for up to 20 years on either single or multifamily properties. These are fixed rate loans, for which lenders charge interest at market rates. The interest rates are not subsidized by HUD, although some communities participate in local housing rehabilitation programs that provide reduced rate property improvement loans through Title I lenders.

Only lenders approved by HUD specifically for this program can make loans covered by Title I insurance. Title I loans can be disbursed directly to the borrower or, if the loan is made through a dealer, the disbursement will be made jointly to the dealer and the borrower. While most lenders and dealers/contractors use this program responsibly, HUD urges consumers to use caution in choosing and supervising home repair dealers/contractors conducting Title I repair/renovation work.