Home Improvement Loan

There is always something to improve at home, especially when it comes to saving energy or sanitation. If the idea is always tempting, it is often the budget that does not follow.

The good news is that there are aids, including one that can provide you with your Family Allowance Fund, the home improvement loan. Who is he talking to? For what types of work? What are the conditions? All the answers to get started in the process, it’s here!

 

What works are concerned?

home loan

This loan is granted to carry out the following works:

  • sanitation and home improvement, such as repairing the roof, installing a bathroom, running water, toilets but also gas or electricity, treatment of lead and asbestos and all repairs relating to upgrades to standards;
  • enlargement and fitting-out work for all that relates to the “habitability” condition of previously unused rooms;
  • thermal and sound insulation, which can include the installation of double glazed windows, the repair of walls or the installation of a new type of heating less greedy in energy.

Note: if this is an aid to improvement works, some cannot be taken into account such as simple repairs of paint and wallpaper. Also excluded are works of a “luxurious” nature and all those relating to the completion of new construction.

 

Who can claim it?

home loan

All tenants and owners can benefit, but you must already be registered with Family Allowance Fund and receive at least one service. However, you will not be able to apply for this loan request if you only receive personalized housing assistance, the allowance for disabled adults or that paid to people without children.

The principle is clear: this loan facility is primarily intended for large families and modest incomes who need to carry out urgent sanitation works in dilapidated or highly dilapidated housing.

 

How much is this loan?

apartment loan

It is calculated based on the cost of the work to be planned and can reach a maximum of 80% of the expenses incurred, up to a limit of 1,067.14 dollars.

Once the home improvement loan has been granted, you will receive half when the contract is signed and the other half once you submit the invoices justifying the proper execution of the work. Repayable in thirty-six monthly payments maximum, the payments are increased only by 1% of the amount of the loan.

 

What are the steps?

home loan

To claim the home improvement loan, it is obviously necessary to provide supporting documents. Your form must be accompanied:

  • detailed quotes for the works, to be drawn up by the companies;
  • estimates of the materials used, if you carry out the work yourself;
  • without forgetting the photocopy of the building permits that may be necessary.

And you, what types of work seem to you to have priority?

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