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:
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
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:
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