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 ?
ICBC Beijing Branch also launches different combinations of personal home improvement loans with other loan products.
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.
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.
A whole range of home improvement loans now means that a new kitchen or bathroom can become a reality rather than a far-off dream.
Home improvement loans are available from Pounds 2000 to Pounds 50,000 with a variety of rates.
Home improvement loans are specifically excluded from the scope of revenue procedure 94-27.
Other exclusions include points paid in connection with home improvement loans, second homes, vacation homes, investment property or business property.
Now the banks are offering home improvement loans at 10% interest.
issued the first publicly-rated issue of home equity and home improvement loans with collateral purchased entirely from the Resolution Trust Corporation, in a transaction totalling $144,654,000.
5 million for refinancing/home improvement loans and $5 million for basic home improvement loans.
Tedom's CEO, Eric Grunfeld, said, "The proceeds from this offering will allow us to greatly increase our home improvement loan portfolio, including both loans originated by us as well as home improvement loans acquired from other lenders.