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2. Property Improvement Loan Program
The Title I Property Improvement Loan Program Origination/Processing through Post-closing and Insurance sections are applicable to all Property Improvement Loans insured under Title I of the National Housing Act. The Lender must fully comply with all of the following standards and procedures for obtaining FHA loan insurance on a Loan.
HUD insures private Lenders against loss on Property Improvement Loans they make. Both large and small improvements can be financed. Loans on Single Family homes may be used for alterations, repairs and site improvements. Loans on multifamily structures may be used only for building alteration and repairs. A property owner may apply at any Lender that is approved to make Title I Loans.