The Home Improvement loan is for current homeowners who live within the boundaries of a Healthy Neighborhood.
The borrower must be the owner-occupant of the home. Current residents may borrow between $5,000 and $20,000, and the loan must be used for home renovation only, including some visible exterior improvements. The interest rate is always 1% below the prime rate (but in no event less than 4%). The term is 10 years. See term sheet for more details!
Frequently Asked Questions
No. You must use the borrowed funds to pay for home improvements you will make after settlement on the loan.
No. This loan is for home improvements only.
Yes! Healthy Neighborhoods encourages standard-setting exterior renovations that add value to your home and your neighborhood.
Yes! We encourage any permanent improvements that add value. And check out energy-efficient appliances that help you save money on your energy bills.
No, HNI does not recommend contractors, but you can request contractors here.
