No Equity Home Improvement Loans

FHA Title I Home Improvement Loans

If the equity in your home is limited, the answer may be an FHA Title I loan. LorMet makes these loans and FHA insures against a possible loss, which helps provide you with a low loan rate. Improvements can be handled on a do-it-yourself basis or through a contractor or dealer. Your loan can be used to pay for the contractor’s materials and labor. If you do the work yourself, only the cost of materials may be financed.

Must be in Lorain or contiguous counties to qualify


Visit a LorMet branch or call us at (440) 960-6600 to get started!

  • No Equity Required
  • Low Fixed Rate
  • Maximum loan value up to $25,000
  • No Prepayment Penalty
  • Flexible Payment Terms


FHA-insured Title I loans may be used for any improvements that will make your home basically more livable and useful. You can even use them for dishwashers, refrigerators, freezers, and ovens that are built into the house and not free-standing. You cannot use them for certain luxury-type items such as swimming pools or outdoor fireplaces, or to pay for work already done. These loans can also be used to make improvements for accessibility to a disabled person such as remodeling kitchens and baths for wheelchair access, lowering kitchen cabinets, installing wider doors and exterior ramps, etc.

Additional information from HUD: Fixing Up Your Home and How to Finance It external link


LorMet is an approved Title I lender by the U.S. Department of Housing and Urban Development.

Owner occupied primary residence only. Any loan over $7,500 must be secured by a mortgage or deed of trust of the property. Available to Lorain County, Ohio, residences only. Subject to review of project estimates and property inspection upon completion.