Rehab Home Improvement Loan Eligibility Guidelines
Rehab Home Improvement Loan
With this loan you could borrow up to $30,000 at a 0% – 6% 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.
ELIGIBILITY:
– Must reside at or below 80% 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:
See requirements
LOANS
Up to $30,000
REPAYMENT TIME
Up to 20 years
INTEREST RATE
0% – 6%
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
Deed
Homeowners Insurance policy
Proof of income – 30 days recent paystubs and/or Award letters: Social Security, Pension, etc.
Recent Bank Statement
Photo ID
Recent Mortgage Statement