There is a minimum requirement of $5,000 in eligible improvements on the subject any
general home improvements.  Eligible improvements include anything that will become a
permanent part of the home.  Also know that up to 6 months mortgage payments may
be financed into loan so you don't have to pay rent and mortgage while work is being
done.

Eligible Improvements
  • Structural repairs and alterations -Includes additions to the structure.
  • Improvements in the functionality or modernization - Includes updating kitchens
    and bathrooms.
  • Changes for aesthetic appeal and elimination of obsolescence - new exterior
    sliding and new doors.
  • Repair/replacement of plumbing, heat, air conditioning or electrical - Installation of
    new plumbing fixtures are acceptable, including interior whirlpool bathtubs.
  • Installation of well and/or septic system - Must be installed or repaired prior to
    beginning any other repairs to the property. Please check Underwriting Guidelines
    for properties less than one acre in size.
  • Replacement of flooring, carpeting or tile.
  • Energy conservation improvement  - New double pane windows and doors, storm
    windows, insulation solar domestic hot water systems.
  • Major landscape work and site improvement - Patios and terraces that improve
    the value of the property equal to the cost, or that are needed to preserve the
    property from erosion. Tree removal is also acceptable if the tree presents a
    hazard to the occupants.
  • Purchase and installation of appliances, including freestanding ranges,
    refrigerators, washers/dryers, dishwashers and microwave ovens.
  • Accessibility improvements for accessibility of persons with disabilities.
  • Painting and other cosmetic repairs.
  • Repair of swimming pool - Must be less than $1,500.00

Ineligible Improvements
  • Items that will not become a permanent part of the property are not eligible.
  • Luxury items are not eligible - Examples are: new swimming pools, exterior hot
    tubs, saunas, spas, tennis courts and barbecue pits
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