Under Title I Property Improvement Program loans can be used:

• To finance large and small improvements.
• For alterations, repairs, and improvements on single family homes.
• For alterations, repairs, improvement of multifamily structures.
• For conversion of an existing structure used or to be used as an apartment or two-to four-unit dwelling.
• To finance the construction of a new exclusively nonresidential structure.
• For alteration, repair, or improvement for manufactured homes classified as Real Property or Personal Property.
• To finance the restoration or rehabilitation of an historic residential structure.
• To finance the purchase and installation of any device or construction feature to reduce the risk of death, personal injury or property damage resulting from a fire in a health care facility.

Title I Property Improvement Program requirements:

• The interest rate is a fixed rate, generally based on the most common market rate in the area and is negotiable between the lender and the borrower.
• Any loan over $7,500 must be secured by a mortgage or deed of trust on the property.
• No prepayment penalty.
• The structure (including a manufactured home) must have been completed and occupied for at least 90 days.