Property Improvement Loan Insurance for Improving All Existing Structures and Building of New Nonresidential Structures
Active
- Assistance listing
- 14.142
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- Property Improvement Loans (Title I-PI)
- Treasury account
-
- 86-4077-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development's Federal Housing Commissioner administers Property Improvement Loan Insurance (CFDA 14.142), which insures HUD-approved lending institutions against default losses on loans made to property owners, lessees, and purchasees for home improvements and improvements to other property types, including construction of new nonresidential structures.
This program does not operate as a direct grant mechanism. Instead, it functions as a loan-insurance product: HUD approves eligible lending institutions, which then originate and service loans directly to borrowers; HUD insures the lender against loss if the borrower defaults. Eligible borrowers include property owners, lessees with leases extending at least six months beyond loan maturity, or purchasers under land installment contracts. Loans mature in twenty years and thirty-two days or earlier and may be refinanced but cannot extend beyond thirty years from the original note date. HUD does not participate in individual loan approval or denial decisions—the FHA-approved lender makes that determination.
The program targets individuals and families seeking to finance property improvements across residential and nonresidential structures. Lenders participating in the program must meet FHA approval standards and comply with HUD regulations regarding loan servicing and record maintenance consistent with prudent lending practices.
No recent grant awards, open grant opportunities, award portfolio data, funding concentration metrics, or application deadlines are present in the source material. The program description provided reflects the standing program structure rather than current application activity. Organizations interested in accessing capital through this mechanism would work with HUD-approved lenders rather than applying directly to HUD; lenders, in turn, apply for HUD approval to participate in the insurance program. The source does not indicate whether new lender approvals are currently being solicited or what the current active lender network comprises.
Objective and description
- Objective
To facilitate the financing of improvements to homes and other property types.
- Description
Insures HUD- approved lending institutions against loss of default for loans made to perform home improvements or improvements to other properties.
Eligibility
- Applicant eligibility
Eligible borrowers include the owner of the property to be improved, a lessee having a lease extending at least 6 months beyond maturity of the loan, or a purchaser of the property under a land installment contract.
- Beneficiary eligibility
Individuals/families.
- Uses of assistance
HUD insures lenders against loss on loans. Insured loans may be used to finance alterations, repairs, and improvements for existing structures and the building of new nonresidential structures which substantially protect or improve the basic livability or utility of the properties. The maximum loan amount is $25,000 for improving a single family home or for improving or building a nonresidential structure. For improving a multifamily structure, the maximum loan amount is $12,000 per family unit, not to exceed a total of $60,000 for the structure.
- Length and time phasing of assistance
Loans mature in 20 years and 32 days or earlier. Loans may be refinanced, but may not extend beyond 30 years from the date of the original note.
How to apply
- Preapplication coordination
Lenders must be approved by FHA in order to participate.
- Award procedure
The HUD approved lenders makes the loan approval or denial decision.
- Time to approval or disapproval
HUD does not participate in the approval or disapproval of individual loans.
- Appeals
The applicant may reapply with the same lender or another HUD approved lender.
Quick answers
What is Assistance Listing 14.142?
Assistance Listing 14.142 is Property Improvement Loan Insurance for Improving All Existing Structures and Building of New Nonresidential Structures, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Property Improvement Loan Insurance for Improving All Existing Structures and Building of New Nonresidential Structures?
Its CFDA number is 14.142: Assistance Listing numbers were called CFDA numbers before 2018.
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