The Title I program insures loans to finance the light or moderate rehabilitation of properties, as well as the construction of non-residential buildings on the property. This program may be used to insure such loans for up to 20 years on either single- or multi-family properties. The maximum loan amount is $25,000 for improving a single-family home or for improving or building a non-residential structure.

Only lenders approved by HUD specifically for this program can make loans covered by Title I insurance. While most lenders and contractors use this program responsibly, HUD urges consumers to use caution in choosing and supervising home repair contractors conducting Title I repair/renovation work. A recent HUD review of Title I uncovered many instances of ""unscrupulous contractors performing shoddy work, falsifying documents, overcharging homeowners, and using deceptive advertising."" HUD encourages homeowners to work directly with their lender in selecting a home repair contractor in order to prevent inflated estimates.

- Claypool FHA Loans

Because Claypool FHA (Federal Housing Administration) loans are government insured, they are offered at cheaper rates. They can be either fixed or adjustable. The cost of the insurance is eventually passed to the homeowner usually via the monthly payments, but it still saves the borrower money. Claypool FHA loans are advantageous because of their low down payment and flexible qualifying. There are also no income requirements and no prepayment penalties. Claypool FHA loans are ideal for first time home buyers, buyers with bad credit, or anyone who doesn’t have enough money to make a large down payment. The entire down payment and closing costs can even be a gift from a family member or an employer. One of our Claypool representatives can help you with any questions you may have, just fill out the form above and we’ll get back to you.

- Claypool FHA Loans Are Perfect for First Time Buyers!

Claypool FHA (Federal Housing Administration) loans are just one of the many programs that are commonly offered to Claypool first time home buyers. Their low rates and easy requirements make them appealing for people who haven’t bought a house before and don't have the assets to backup a mortgage. Anyone can take advantage of them, though. They are also great for buyers who have small or zero down payments. Fill out the above form and one of our knowledgeable Claypool representatives will contact you to see if an FHA loan is right for you.