home improvement loan

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Home Improvement Loan

A loan used to remodel or repair a private residence. Home improvement loans are usually short-term. They may or may not be secured by the homes whose work they finance, but those that are secured generally carry lower interest rates.

home improvement loan

A loan to make improvements on one's principal or secondary residence;may be a home equity line of credit or a traditional loan in a fixed amount.Both are secured by a second mortgage on the property.

References in periodicals archive ?
Consumers are becoming more comfortable with home improvement loans because of the availability of higher loan amounts, speed of delivery and the overall flexibility they provide," saidTodd Nelson, LightStream senior vice president.
The company said, "Marcus home improvement loans have no fees ever.
Over the next three years, the Mexican institution expects its home improvement loans to reach approximately 8,000 more families.
EnerBank USA has launched a mobile loan app to use in applying for its home improvement loans, the company said.
00 lakh for a tenure of 15 years, for purchase or self-construction of a residential unit, home loans, home extension loans, home improvement loans.
A survey by financial services group GE Money found applications by Irishwomen in their 20s for home improvement loans are up a record 130 per cent.
Black Americans are denied mortgages and home improvement loans at twice the rate of whites.
HMDA and the Board's Regulation C require most depository institutions and certain for-profit, nondepository institutions to collect, report, and disclose data about applications for, and originations and purchases of, home mortgage loans, home improvement loans, and refinancings.
Abbey National found the number of home improvement loans rose by 17 per cent last year, largely due to the popularity of Groundforce's Alan Titchmarsh and Charlie Dimmock.
The number of people taking out home improvement loans increased by 17 per cent last year, according to a survey for the Abbey National.
The ``Focus Neighborhood'' project provides grants and low-interest home improvement loans for homeowners and offers options for apartment building owners to pay for exterior paint, landscape improvements, driveway maintenance, tool loan vouchers, and trash Dumpster service.
The agreement resolves claims that the Deposit Guaranty National Bank violated the Fair Housing Act and the Equal Credit Opportunity Act when it illegally rejected qualified African-American applicants through the use of subjective underwriting practices when deciding the approvals and denials of credit-scored home improvement loans.