• Are the improvements you plan to undertake increasing the value of your home more than the loan you apply for?
• What will the monthly payments be?
• What are the tax implications? Possible tax deductions? Se Section: Mortgage Deduction.

There are Government grants programs available offering financial help to low income families to repair current homes. HUD aims at expanding home ownership opportunities and neighborhood revitalization and have programs to rehabilitate properties in partnership with state housing agencies and non profit organizations To Learn about HUD visit: hud.gov

Types of Property
* One to four unit
* Owner Occupied
* No more than 15% of the property can be used for trade or business purposes

Smaller Projects...
If your home improvement financing project is mainly concerning smaller, but important repairs for example, replacing gutters, replace a couple of windows, putting in a sky light, updating the furniture in your family living room etc., then taking out a HOME IMPROVEMENT LOAN or a SECURED PERSONAL LOAN, may be sufficient to meet your needs.

If You Do Most of the Work Yourself!
If your planning home improvement financing for a bigger project, but your still going to "do it yourself", or at least the major part, then you really should to seek more advice from you financial advisor because, depending on your individual circumstances, you may be toeing the line between needing a personal HOME IMPROVEMENT LOAN or a HOME EQUITY LOAN to cover your project.

Call in the Professionals
Take a closer look at HOME EQUITY LOAN or HOME EQUITY LINE loan offers, especially if you don't have the time necessary to dedicate youself to your home improvement project or if you are not D.I.Y. inclined.

If you feel as many of us do, that you just want to "get the job done", then you need to call in the professionals for construction work, carpentry, plumbing and wiring, for major repair jobs, maintenance, conversions and building projects.
Because of the numerous Home Improvement Financing Options available to us today, many of us can now tackle those bigger, more expensive jobs like re-tiling the roof and building that extension.

** No loan fees or closing costs
** Fixed interest rate
** Amount of loan can be up to 100% of the value of your property
** Terms up to 25 years for smaller monthly payments
** 0.25% interest rate reduction with automatic payment plan
** Consult your tax advisor.

** No loan fees or closing costs
** Variable interest rate
** 10-year draw period
** Interest rate can be reduced with automatic payment plan
** As the outstanding balance is paid, that amount becomes available to borrow again.

With a no cost, low-interest loan, you can:

* Make needed repairs
* Maintain or increase property value
* Decrease utility costs

Priority home improvements include repairs for purposes of health and safety, energy conservation, and structural preservation. New roofs, windows, siding, doors, plumbing, electrical, heating, water heaters, water and sewer systems, kitchens, bathrooms, porches, barrier free access, wells, septic systems, and basement waterproofing, are a sample of eligible projects

You may be able to get a home improvement loan even if you do not have any equity in your home. The Federal Housing Authority (FHA), a federally sponsored agency, manages a government insured home improvement loan program. No appraisal is required, and you can borrow under the FHA program whether or not you have any equity. Other benefits of the plan include fixed interest rates, up to 20-year terms and quick funding (7 to 10 days). Ask your lender about FHA Title 1 Home Improvement Loans.

Interest on home improvement loans secured by your primary or secondary residence is generally deductible as long as the total of all mortgage and home improvement loans secured by your primary or secondary residences does not exceed $1 million ($500,000 if you are married and filing a separate return). See Section: Mortgage Deduction

Home improvement loans are intended to increase the value of your home so it is important to think carefully about where best to put the money. After all, the money spent on home improvements is added to your overall cost of the home and you want to be able to recoup this cost if and when you decide to sell.

While the goal of your home improvement loan is to make repairs or upgrades to your home, the challenge is to make that money go even further, raising the value of your home above and beyond the level of money spent.