Rehab Loans

Rehab Loans

Types of Rehab Loans

See requirements

Up to $20,000 Rapid Rehab Loan

This new rehab loan allows customers to borrow up to $20,000 at a 4% fixed interest rate up to 10 years. Customers do not need to have equity in their homes to qualify, which makes this an attractive loan for new homeowners. Use this loan to cover any renovation projects or energy-efficient repairs.

Eligibility:

  • - Apply for up to $20,000
  • - No Equity Needed
  • - Receive Funds Within 30 Days
  • - 4% Fixed Rate Payable up to 10 years
  • - Use for Any Home Renovation Project or Energy-Efficient Repairs
  • - No Income Limit
  • - Credit Score 680 or Above
  • - Primary Residence
  • - Baltimore City only

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $20,000

Repayment Time

Up to 10 years

Interest Rate

4% Fixed

Employment

Must be employed continuously for 1 year

Repayment Schedule

Monthly ACH payment optional

Banking requirement

Must have bank account

Underwriting

Must have an ability to repay the loan

Credit

Credit score 680 or above.

Supporting Documents

Copy of recent mortgage statement

See requirements

Up to $7500 Quick Fix Loan

With this mortgage loan product, you could install a new heat pump or insulate your attic and improve efficiency. You can choose your own contractor to complete the work and may close in as little as 30 days. Borrow up to $7,500 at a 5% interest rate payable for up to 7 years.

Eligibility:

  • - Must reside at or below 120% of the Area Median Income
  • - Must reside in Baltimore City
  • - Must have credit score of at least 620
  • - Must have equity in the amount of the loan

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $7500

Repayment Time

Up to 7 years

Interest Rate

5%

Employment

Must be employed continuously for 1 year

Repayment Schedule

Monthly direct deposit option

Banking requirement

Must have direct deposit

Credit

Credit score of 620 and above.

Supporting Documents

Copy of recent mortgage statement

See requirements

Over $7500 Large Renovation Loan

Eligibility:

With this loan you could borrow up to $30,000 at a 0% - 4% interest rate. Payments can be deferred until you sell your home depending on your ability to repay the loan. Use this loan to cover costly improvements such as new roof, furnace, electric or plumbing.

  • - Must reside at or below 120% of the Area Median Income
  • - Must reside in Baltimore City
  • - Credit reviewed
  • - No medical collections over $1000
  • - No judgements no liens

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $30,000

Repayment Time

Up to 20 years

Interest Rate

0% - 4%

Employment

Must have 1 year stable income

Repayment Schedule

Based on the ability to repay

Banking requirement

No requirement

Credit

Credit reviewed no score required

Supporting Documents

Copy of recent mortgage statement

To register for the NHS Homebuyers' Education class, please click the button below.
Click Here to Register
+