I just came across an interesting program that can enable people to borrow up to $30,000 on top of their FHA home loan.  The additional money can be used to repair or upgrade your future or new home in the following areas:

• Repair/Replacement roofs, gutters and downspouts
• Repair/Replacement/upgrade of existing HVAC systems
• Repair/Replacement/upgrade of plumbing and electrical systems
• Repair/Replacement of existing flooring
• Minor remodeling, such as kitchens, which does not involve structural repairs
• Exterior and interior painting
• Weatherization: including storm windows and doors, insulation, weather stripping, etc.
• Appliances - when at least $3,000 of basic home repairs are involved. Appliances may include free-standing ranges, refrigerators, washers/dryers, dishwashers and microwaves and may not exceed $2,000 in total cost.
• Improvements for accessibility for persons with disabilities

www.hudclips.org 

I think this is especially important as we consider the rising cost of energy prices. This type of loan can allow a home owner to upgrade to a more efficient heating or air conditioner or other appliances and possibly even add solar energy products.

This entry was posted on Wednesday, July 25th, 2007 at 4:53 pm and is filed under Home Improvements, mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.