FHA Title 1 home improvement lenders

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Icon Mini Profile sjperrini





Joined: 31 Jul 2009

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Post Posted: Wed Jan 27, 2010 11:26 am    Post subject: FHA Title 1 home improvement lenders
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I'm interested in using the FHA Title 1 for home improvements and the approved lender list that HUD offers is seemingly useless. All of the lenders on the site have been approved to make the loans but when I call they say they aren't. There is one I located but is a great distance from my house. Does the lender have to be from the county I live in? Do you know of any other resource that I could use to locate a participating approved Title 1 lender?

Other things that I've considered besides the Title 1 are secured loans---the interest rates are obnoxious. Home Equity Loan---don't have any. 401K Loan---big monthly payment.

Hopefully you can offer some more insights or options. I appreciate your time!

S.P.
Icon Mini Profile savior70





Joined: 25 Mar 2009

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Post Posted: Thu Jan 28, 2010 4:46 am    Post subject:
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Hi,

It seems the FHA title I lenders list offered by the HUD is not updated. Many things in the mortgage industry have changed in the recent few years and it looks like the lenders you contacted are no longer approved by FHA to offer you the loan. It's not necessary that the lender has to be from the county where you live in. You can take a loan from a lender outside of your county, provided the lender is willing to offer you the loan.
Icon Mini Profile lagundi_99





Joined: 23 Jul 2010

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Post Posted: Fri Jul 23, 2010 7:16 pm    Post subject: Names of Title 1 lenders for your area
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Check the credit unions listed on the HUD site you searched for your state- those are the few that are willing to lend under the fee cap. If you tell me what state you are in, I can give you a list of the lenders CURRENTLY lending on the FHA Title 1 program. Granted, a very small percentage of those actually licensed... long story.
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Post Posted: Thu Sep 23, 2010 9:34 am    Post subject: A large Title 1 Lender
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Domestic Bank out of Rhode Island offers Title 1 loans throughout the country.
Donnie Faldo

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Post Posted: Sat Nov 13, 2010 5:51 pm    Post subject: Title-One Loans in California
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Does anyone know who is offering Title-One loans in California??
James Johnson

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Post Posted: Tue Aug 16, 2011 1:19 pm    Post subject: Title 1 loan
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I'm looking for a title 1 lender in the state of California
can you help?
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005

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Post Posted: Tue Aug 16, 2011 9:43 pm    Post subject:
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Hi Donnie/James,

I will suggest both of you to contact the local lenders and check out if they can offer you a title 1 loan. This community has a large number of lenders. You can seek a no obligation free mortgage quote from them and check out if they can help you with a loan and know what type of rates and terms you might get.

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Procrastination is the enemy of your financial success
Ania

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Post Posted: Thu Feb 23, 2012 6:37 am    Post subject: Title 1 loan in Atlanta Ga
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Looking for a Title 1 loan lender in Atlanta.or trying to get home improvement loan. no equity in my home.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

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Post Posted: Thu Feb 23, 2012 11:43 pm    Post subject:
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Hi Ania!

Welcome to forums!

Unless you have equity in your property, you won't be able to get a refinance or a home equity loan to finance your home improvements. However, if you wish, you can go for a personal loan in order to finance the home improvements.

Feel free to ask if you've further queries.

Sussane
Thao

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Post Posted: Mon Jan 14, 2013 12:37 pm    Post subject: FHA Title Home Improvement Loan in Texas
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I am having a difficult time finding a lender in Texas that offers FHA Title I home improvement loans for some energy efficiency upgrades. Any help would be appreciated since I do not have any equity in my home
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

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Post Posted: Tue Jan 15, 2013 9:31 pm    Post subject:
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Hi Thao,

As far as I know, as a property owner may apply to a bank, mortgage company, savings and loan association, credit union, etc. that is approved to make Title I loans. You can even check out the given page to find some lender for home improvement loans in Texas: http://www.hud.gov/ll/code/llslcrit.cfm .

Thanks
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