Property improvement loan means a financial obligation secured by collateral acceptable to the authority, the proceeds of which shall be used for improvement or rehabilitation of housing which is deemed by the authority to be substandard in its protective coatings or its structural, plumbing, heating, cooling, or electrical systems; and regardless of the condition of the property, the term “property improvement loan” may include loans to increase the energy efficiency of housing or to finance solar or other renewable energy systems for use in that housing.
Property improvement loan means a financial obligation secured by collateral acceptable to the authority, the proceeds of which shall be used for improvement or
Property improvement loan means a loan made to finance actions or items that substantially protect or improve the basic livability or utility of a property* Unless otherwise indicated, the term includes single family, multifamily and nonresidential property improvement loans; manufactured home improvement loans where the home is classified as personalty; historic preservation loans; and fire safety equipment loans in existing health care facilities.
Examples of Property improvement loan in a sentence
Section 201.20 is amended by adding paragraph (a)(3) to read as follows: § 201.20 Property improvement loan eligibility.
The Federal Insurance Contribution Act, which provides funds from which social security benefits are paid.
When a modification agreement or repayment plan is used, no insurance reporting is required under§ 201.30.Subpart C— Eligibility and Disbursement Requirements§ 201.20 Property improvement loan eligibility.
More Definitions of Property improvement loan
Property improvement loan means an advance of money, evidenced by a note, to finance rehabilitation and general repairs and improvements to a residence consistent with the purposes of this division. A property improvement loan may, but need not be, secured by a deed of trust. However, a property improvement loan made outside a neighborhood preservation area shall be unsecured and shall not exceed fifteen thousand dollars ($15,000).