Title I loans may be used to finance permanent home improvements that protect or improve the basic livability or utility of the property--including manufactured homes, single-family and multifamily homes, nonresidential structures, and the preservation of historic homes. The loans can also be used for fire safety equipment.
Most of the loans are for items that provide structural additions and alterations, exterior and interior finishing, roofing, insulation, and heating and cooling systems. The funds cannot be used for "luxury" items, such as swimming pools or hot tubs. They also cannot be used for debt consolidation, cash-out, or any non-home related expenses.
Title I Home Improvement loans on single family houses may be used for alterations, repairs and for site improvements. Loans on multifamily structures may be used only for building alteration and repairs. Structure must have been completed and occupied for 90 days.
