Home Improvement Loan definition

Home Improvement Loan means a secured or unsecured loan used for the purpose of repairing, rehabilitating, or remodeling an existing residential dwelling designed for occupancy by 4 or fewer families, as stated by the borrower in the loan application and as recorded on the books of the credit granting institution.

Home Improvement Loan means a mortgage loan to finance such alterations, repairs and improvements on or in connection with an existing residence as the MFA may determine will substantially protect or improve the basic livability or energy efficiency of the residence, including without limitation the acquisition and installation of energy conservation building materials and solar energy equipment.

Home Improvement Loan or (D) "Manufactured Housing Loan" under the NJ Act;

Examples of Home Improvement Loan in a sentence

• Home Improvement Loan (not secured by property) This Home Improvement loan is not secured by property and must be used to modify a dwelling.

• The HOF shall be initially funded with net residual assets of the MFA’s issue of Home Improvement Loan Revenue Bonds, 1985 Series A and financing adjustment factor (FAF) savings derived from the MFA’s Multi-Family Housing Refunding Revenue Bonds 1990 Series A.

• The Clerk reminded Councillors it had been agreed that the inspection would be carried out on a rota basis between Councillors.

• A Housing Rehabilitation Program and Home Improvement Loan Program, funded by revenue bonds outstanding at any time of up to $100.0 million, to finance below-market-rate loans for home rehabilitation.

• Each Mortgage Loan and Home Improvement Loan financed must: (i) be the subject of an allocation of funds; (ii) be the subject of a written agreement executed by the MFA and the Applicant; (iii) comply with the terms and conditions of such agreement; (iv) be serviced in compliance with the servicing requirements of such agreement; and (v) otherwise comply with the MFA’s requirements for the financing andservicing of Mortgage Loans and Home Improvement Loans under the Single Family Homeownership Program.

More Definitions of Home Improvement Loan

Home Improvement Loan. A loan, the net proceeds of which were or will be used by the Obligor to finance property improvements.

Home Improvement Loan. A mortgage loan that is made to finance actions or items that substantially protect or improve the basic livability or utility of a residential property and that is secured by a lien on such residential property.

Home Improvement Loan means a mortgage loan to finance those alterations, repairs and improvements on or in connection with an existing residence that the authority determines will substantially protect or improve the basic livability or energy efficiency of the residence;

Home Improvement Loan means a loan of money for the essential alteration, repair or improvement of an existing home;

Home Improvement Loan means a loan or a purchase of obligations representing loans or advances of money made by a bank or approved credit agency for the purpose of financing repairs, alterations and additions to, and modernisation of a home.

Home Improvement Loan means a type of Further Advance product that can only be used by the Borrower for the purposes of making repairs, alterations and/or improvements to the relevant Property;

Home Improvement Loan means any loan that: