If you have a house that you want to improve and have never received a loan from the NHT, you can get this loan to make additions to the house or even to add fencing.
The Home Improvement Loan is a Homeowner’s Loan. If you have previously received a loan from the NHT you may still be able to access funds to improve your home through our Fifteen (15) Plus Loan product.
If you are a Homeowner (meaning your name is on the title of a house), you may access a loan benefit to make changes or improvements to your house or another house for which you have legal permission to do so. You may also co-apply with 1 other qualified NHT Contributor (who has also never received a loan from us) to access a higher loan limit for the Home Improvement. At least one of the co-applicants must be listed on the title of the property being improved. If the cost to construct the unit is more than the amount being borrowed from us, then the mortgagor must expend the difference prior to any disbursement by the Trust. If you need (and can afford) to borrow more money you may seek additional funds from another lending institution that is willing to enter into either a Pari Passu or Joint Finance Mortgage with us.
Click here to find out how to apply for your Home Improvement Loan.
Click here to learn about our loan limits.