White House calls for Congress to release unused small business loans

Oct. 11 (UPI) — Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Sunday sent a letter to Congress calling for the release of unused Paycheck Protection Program funds amid ongoing talks on an additional round of COVID-19 stimulus.

Mnuchin and Meadows urged lawmakers to release the $134 billion in loans provided to small businesses to maintain operations and retain employees included in the $2 trillion CARES Act passed in March, while also criticizing Congress — particularly House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer — for their “all-or-nothing” approach to negotiating additional stimulus.

“The House has passed two separate partisan bills instead of compromising with us on bipartisan legislation like we have done in the past,” they wrote. “We will continue to try to work with Speaker Pelosi and Senator Schumer. It is not just about the top-line number but also about legislation that can be passed by the House and the Senate and signed into law by President Trump to help the American people.”

The letter comes after Mnuchin introduced a $1.8 trillion proposal on Friday, raising the White House’s previous offer of $1.6 trillion and inching closer to the $2.2 trillion package passed by the Democratic-led House earlier this month.

Mnuchin’s proposal was met with criticism from Democrats who believed it was not enough and some Republicans who believe the funding is too high.

Appearing on CNN’s State of the Union, White House Economic Adviser Larry Kudlow said that he believes Senate Republicans can come to an agreement in support of a newly proposed $1.8 trillion package despite host Jake Tapper noting that 20 GOP members of the chamber criticized the latest proposal from the Treasury Secretary Steven Mnuchin as a “death knell” for the measure.

“I don’t think it’s dead at all. I spoke to Secretary Mnuchin last evening. Look, don’t forget, the Republicans in the Senate put up their own bill a few weeks ago and got 53 votes, I think it was,” Kudlow said, referring to a so-called “skinny” $300 billion relief bill that failed to meet the 60 vote threshold to pass in September.

“I think, if an agreement can be reached, they will go along with it.”

Democrats have pushed to reinstate enhanced federal unemployment insurance at $600 a week through January, while Mnuchin last offered $400 a week at most. The Trump administration has also resisted providing states with any more than $150 billion in federal funding they received in a stimulus package earlier this year, while Pelosi has called for at least $436 billion in relief for states.

In a letter to Democratic colleagues on Saturday, Pelosi said the latest offer from the White House was “insufficient,” calling on the administration to commit to addressing issues related to combatting the virus such as testing, contact tracing and treatment.

“Until these serious issues are resolved, we remain at an impasse,” she wrote. “However, I remain hopeful that the White House will join us to

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Home Improvement Loans and Grants | Health Impact in 5 Years | Health System Transformation | AD for Policy

What are home improvement loans and grant interventions?

Home improvement loan and grant programs provide funding for low-income families to repair their homes, make improvements, and remove health and safety hazards.[1] These programs can be one part of a broader home or housing improvement initiative or focused on specific issues such as heating and insulation, lead, or mold.[1] The purpose of the intervention is to enable low-income homeowners to improve the safety and habitability of their homes.

These home improvement loan and grant programs can be implemented at the local, state, or federal levels.[1] Examples of states using these types of programs include Maryland and Minnesota. Maryland’s Department of Housing and Community Development administers the EmPOWER Low Income Energy Efficiency Program, which assists low-income homeowners in making household improvements that reduce energy use and may improve air quality.[2] Minnesota’s Housing Finance Agency administers a Rehabilitation Loan/Emergency and Accessibility Loan Program with the stated purpose of “assisting low-income homeowners in financing basic home improvements that directly affect the safety, habitability, energy efficiency, or accessibility of their homes.”[3] Federal programs that facilitate the provision of loans or grants to homeowners for repairs and improvements include the U.S. Department of Agriculture’s Single Family Housing Repair Loans & Grants program[4], and the U.S. Department of Housing and Urban Development’s Rehabilitation Mortgage Insurance program.[5]

A group of illustrations of lungs, a doctor with a stethoscope, a dog, a dustmite, an inhaler, a building, a breathing machine (nebulizer), a nose with mucous dripping out of one nostril, a person coughing into their hand

CDC’s EXHALEpdf icon package features evidence-based strategies to improve asthma control and reduce healthcare costs, including policy information about home weatherization assistance programs.

What is the public health issue?

Many internal housing conditions, such as temperature, dampness, the presence of lead paint, and other safety hazards, can influence health.[6, 7] Lower income families are at a higher risk for living in unhealthy housing conditions.[7] The Environmental Protection Agency found that Americans spend on average 87 percent of their time indoors, almost 69 percent of which is in a residence.[8] Evidence shows that one primary health outcome associated with housing is respiratory health.[9] Cold and damp conditions within the home may lead to or worsen respiratory health issues. [6, 9] In 2004, the Institute of Medicine (IOM) found that there was sufficient evidence to link indoor exposure to mold with upper respiratory tract symptoms, coughing, and wheezing in otherwise healthy people; with asthma symptoms in people with asthma; and with hypersensitivity pneumonitis in individuals susceptible to that immune-mediated condition. The IOM also found suggestive evidence linking indoor mold exposure and respiratory illness in otherwise healthy children.[10]

What is the evidence of health impact and cost effectiveness?

Home improvements that address warmth and energy efficiency, such as weatherization to improve insulation, air quality, and dampness, have been most strongly associated with health benefits, particularly where household members suffer from existing chronic respiratory disease.[11] Multiple systematic reviews and studies examining the evidence for the impact of home improvement interventions on health found

  • Improvement in general health status [11-15]
  • Improvement in respiratory health[11, 12, 14, 15]
  • Improvement in mental
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The Best Home Improvement Loans of 2020

Home improvement loans can strengthen your home investment by helping you finance home renovations, updates and repairs. And with many of us spending more time at home these days because of the coronavirus, it’s a great time to make some changes to your house. But first, you should understand your home improvement loan options.

This guide covers home improvement loan types, costs, how to qualify and how to choose the best home improvement loans. If you’re ready to finance home improvement, start here.

  • What is a home improvement loan?
  • What type of home improvement loan is best?
  • How can you get a home improvement loan?
  • How can you choose the best home improvement lender?

What Are the Best Home Improvement Loans of 2020?

Methodology: U.S. News conducted an in-depth review of the leading home equity and home improvement lenders. Lenders were evaluated based on product availability, customer service ratings, qualification requirements and loan terms.

There is no home improvement loan that is perfect for everyone, so the top performers were recommended based on the strengths in these key areas. Recommendations are divided into two categories: home equity loans or home equity lines of credit, and personal loans.

Best lender for HELOC with no annual fee.

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, Department of Veterans Affairs and jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Lender Highlights

  • Mortgage types: ARMs, conventional, FHA, first-time homebuyer program, home equity lines of credit, refinancing, VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: $5 million
  • Better Business Bureau rating: A+

Best Features

  • Wide variety of mortgages

  • Annual percentage rate or closing cost discounts for qualifying Bank of America and Merrill Lynch clients

  • No closing costs and no annual, balance transfer and cash advance fees for HELOCs

See full profile

Best lender for up to $3,000 cash at closing with a grant and education course.

Chase, one of the nation’s largest banks, offers mortgage and refinance loans for qualified borrowers. Home equity loans and HELOCs are also available.

Before You Apply

  • Mortgage types offered: ARMs, conventional, FHA, jumbo, refinance and VA
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Accepts down payments as low as 3%

  • Receives high marks from the Better Business Bureau

See full profile

Best lender with zero cash due at closing.

Discover not only issues major credit cards but also makes loans to qualified borrowers. Choices include mortgage refinance or home equity loans that can be used to pay for home improvements, consolidate debts and cover other major expenses.

Lender Highlights

  • Mortgage types: home equity, refinancing
  • Minimum FICO credit score: 620
  • Maximum loan amount: $200,000
  • Better Business Bureau rating: A+

Best Features

  • No application or origination fees

  • Fixed monthly payments with several repayment term options

  • Convenient digital applications

See full profile

Best lender for loans up to $3 million.

Flagstar offers banking and lending
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What Is Section 504? Home Improvement Grants and Loans

In the interest of keeping Americans in good-quality homes, the government created the Section 504 Home Repair program. This initiative provides money in the form of loans and grants to qualified homeowners who are looking to modernize their homes.

But don’t start drawing up the plans for a first-story extension just yet: A Section 504 loan or grant can only be used for very specific home improvements.

Let’s take a closer look at this government-sponsored home improvement program and how homeowners can participate—and what the loans or grants can be used for.

What is the Section 504 Home Repair program?

The Section 504 Home Repair program, also known as the Single Family Housing Repair Loans & Grants, offered by the U.S. Department of Agriculture Rural Development was set up to provide financial aid to low-income homeowners so they can repair, improve, or modernize their homes. The program also helps elderly and low-income homeowners remove health and safety hazards from their homes.

While you might want to jump at the chance to get a home improvement grant for a kitchen update or extra bedroom, you’d be advised to put those HGTV fantasies aside for the time being. This grant can only be applied to specific types of core projects that fall into three main categories:

  • Bringing your home up to health and safety standards (e.g., projects involving the roof, foundation, or electric and water systems)
  • Making your home accessible for residents with disabilities (e.g., adding ramps and bars)
  • Making your home more energy-efficient (e.g., insulation, energy conservation education, furnace repair and replacement, and heating duct improvements)

How much money can you receive, and do you have to pay it back?

The maximum loan amount is $20,000 and the maximum grant amount has a lifetime limit of $7,500. The loan can be repaid over 20 years, and the interest rate is fixed at 1%.

You don’t have to pay back a grant, but before you’re given any funds, you must sign an agreement that says if you sell your home that’s been repaired with a Section 504 grant within three years, the full amount must be repaid.

Who qualifies for the Section 504 Home Repair program?

Grants and loans are given out based on criteria set and evaluated by the USDA. To qualify for the program, you must own and occupy your home, be unable to obtain credit elsewhere, or have a family income below 50% of the area’s median income. At least one person living in the household must be age 62 or older and unable to repay a repair loan.

How do I apply for the Section 504 Home Repair program?

First, visit the USDA website to determine if you are eligible. Before you begin any paperwork you should consult a USDA home loan specialist in your state. The specialist can help you with the application and answer any questions you have about the process. These loans and grants are available year-round, and there is no deadline for filing.

S

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Home Improvement Loans | SunTrust Loans

Important Information About These Products

Subject to credit approval, eligibility and credit qualifications.

You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information, and (3) complete the final verification process.

Consult a tax advisor regarding the deductibility of interest.

4 Minimum required line amount for this interest rate is $100,000 and is based on a maximum Combined Loan-To-Value (CLTV) of 70% or less. As low are rates vary by state/geographic region. The lowest rate listed includes a 0.25% interest rate reduction obtained if the payment is automatically deducted from a SunTrust checking, savings or money market account. For the SunTrust Equity Line, this interest rate reduction does not apply to promotional rate advances, Fixed Rate/Fixed Term Advances or during the Repayment Period. All loan and line discount offers are subject to change. Offer is available for new and refinanced consumer home equity lines as well as for home equity credit line increases. Relationship pricing discounts are not available on existing consumer loans or lines of credit. The Prime Rate means the highest per annum “Prime Rate” of interest published from time to time by The Wall Street Journal in its “Money Rates” listings, which was 3.25% on 5/1/2020. Standard APRs are variable; are based on your collateral property location, credit line amount, Combined Loan-To-Value (CLTV) ratio and other factors; and can range from Prime + 0.75% (currently 4.00% APR) to Prime + 6.91% (currently 10.16% APR) (during the 20-year repayment period for this option, the APR will continue to be calculated at a variable rate and your minimum monthly payment will be 1/240th of the total balance at the end of the draw period, plus interest and any applicable fees/charges). The maximum APR is 18% for properties located in FL, GA, TN, AL, SC, VA, MD, DC, AR, WV and MS. The maximum APR is 16% for properties located in NC. Offer and rates subject to change without notice. Offer is only available for owner-occupied, single-family, primary residences and condominiums located in FL, GA, TN, AL, SC, VA, NC, MD, DC, AR, WV or MS, and is not valid on manufactured homes or cooperatives. SunTrust must be in a valid first- or second-lien position. Exclusions and limitations apply. Property insurance is required and, if applicable, flood insurance will be required. For each advance taken under the Fixed Rate/Fixed Term option, there will be a $15 processing fee (except in MD and NC). Preliminary line decisions are usually made within 24 hours on applications received during normal banking hours.

A 0.25% interest rate reduction off the standard rate of a consumer line of credit is available if the payment is automatically deducted from a SunTrust checking, savings or money market account using SurePay. For the SunTrust Equity Line, this interest rate

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Best Bad Credit Home Improvement Loans | Find the Best Loan for You

If you think you’re ready to tackle a major home improvement project, your first question may be how to pay for it. Whether you need to get a new roof or renovate your whole house, a home improvement loan can help you access the money to make it happen.

But qualifying for home improvement loans with bad credit can be a challenge. That doesn’t mean you’re completely out of luck, though. Here’s what you need to know.

The Best Bad Credit Home Improvement Loans of 2020

Bad Credit Home Equity Loans for Home Improvement

  • Bank of America: Best lender with no minimum loan amount.

  • loanDepot: Best lender for borrowers with FICO scores as low as 500.

  • Guild Mortgage: Best lender for financing up to 97% of your home’s appraised value.

  • SunTrust Bank: Best lender for online loan comparison, application and documentation.

Methodology: The best bad credit home improvement lenders are selected based on consumer ratings, minimum FICO credit scores and product availability.

Best lender with no minimum loan amount.

A major financial institution serving homeowners nationwide, Bank of America has good customer satisfaction ratings. The bank has an A+ Better Business Bureau rating and a J.D. Power rating of four, which is better than most.

Highlights:

  • Mortgage types offered: Conventional, VA, FHA, refinance, home equity
  • Minimum FICO score: 620
  • Maximum loan-to-value ratio: 100%
  • Maximum debt-to-income ratio: 55%
  • Loan amounts: Up to $5,000,000
  • Total closing costs: Varies
  • J.D. Power overall satisfaction rating: Four out of five

Best Features

  • Bank of America has a wide variety of mortgage products.

  • The lender offers annual percentage rate or closing cost discounts for qualifying Bank of America and Merrill Lynch clients.

  • Home equity lines of credit have no annual, balance transfer or cash advance fees or closing costs.

See full profile

Best lender for borrowers with FICO scores as low as 500.

LoanDepot was established in 2010 and since then has financed more than $70 billion in mortgages. It offers FHA, conventional and other mortgage options. Borrowers may qualify for a loan with a FICO credit score as low as 580.

Highlights:

  • Mortgage types offered: Conventional, FHA, VA, ARM, Refinancing (conventional), Refinancing (FHA), Refinancing (VA), Home equity loans
  • Minimum FICO credit score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined loan-to-value ratio: 90%
  • J.D. Power satisfaction rating: Four out of five

Best Features

  • LoanDepot mortgages have a lifetime guarantee, which means if you ever decide to refinance an existing loanDepot loan, the company will waive the lender fees and reimburse appraisal fees.

See full profile

Best lender for financing up to 97% of your home’s appraised value.

Guild Mortgage, founded in 1960, specializes in home loans and serves borrowers nationwide. The lender’s full suite of products includes conventional and government-backed mortgages and home equity loans.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, jumbo, manufactured home, refinance, reverse, USDA and VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: varies
  • Better Business Bureau rating: A+

Best Features

  • Receives

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Best Home Improvement Loans of September 2020

What is a home improvement loan?

A home improvement loan is an unsecured personal loan that you use to cover the costs of home upgrades or fixes. Lenders provide home improvement loans for up to $100,000 with rates typically between 6% and 36%.

Because you don’t put up your house as collateral for the loan, your rate is based on your credit and income information. If you can’t repay the loan, your credit will take the hit.

Should you get a home improvement loan?

A home improvement loan can make sense if you don’t have a lot of equity in your home or you don’t want to use your home as collateral.

Ideally, you can qualify for a low rate and monthly payments that you can afford for the life of the loan. Payments on home improvement loans are usually fixed, which means you can reliably schedule monthly payments into your budget.

Here are some things to consider about personal loans for home improvement projects:

  • High rates. Since the loan is unsecured, the interest rate may be higher than on a home equity loan or home equity line of credit, which typically have rates in the single digits.

  • Fast funding options. Online applications typically take a few minutes, and funds are available within a day or two at some lenders, while funds from a HELOC or home equity loan can take a few weeks. Learn how to apply for a personal loan for a smoother process.

  • No tax benefits. You can’t claim a tax deduction on the interest on personal loans as you might be able to do with mortgage interest.

How to compare home improvement loans

Shopping around and pre-qualifying can help you find the loan with the best rate and features. Here are some things to compare between unsecured loans.

  • Annual percentage rates: APRs represent the entire cost of the loan, including any fees the lender may charge. If you’re a member of a credit union, that may be the best place to start. The maximum APR at federal credit unions is 18%.

  • Loan amount: Some lenders cap amounts at $35,000 or $40,000. If you think your project will cost more than that, look for a lender that offers higher loan amounts.

  • Loan term: Loans with longer repayment terms have more affordable monthly payments than those with shorter repayment terms. But a longer repayment term also means you’ll pay more interest over the lifetime of the loan. You can use a personal loan calculator to see estimated payments on different loan terms.

Home improvement loan uses

Unsecured loans can cover almost any repair or upgrade. How much you’ll need will vary based on your location, home size and how extensive your plans are.

Americans spent a median of $6,500 on room additions and renovations in 2017, according to the most recent available data from the U.S. Census Bureau’s American Housing Survey.

Here are some common projects and their estimated median costs.

Sources: The U.S. Census Bureau’s 2017

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Home Improvement Loans

Make Your Home Eco-Friendly: It’s not nearly jumping on the environmental ‘green-craze.’ Making your property extra eco-friendly not solely helps the setting round us but also can save you a bundle of cash. If you live in an residence or have a small yard, you possibly can create a wonderful pond by using an old half-whiskey barrel, discovered at most hardware and home enchancment stores. Watch for carpet set up sales at native areas of national dwelling improvement retailers.

And as a vendor of such items, you would wish to be sure that your property is in its finest form all the time and not only for one-time functions, because you will by no means know when a shopper will drop by. In order to make this possible, you would need to invest in the advance of your property as a lot as doable so as to guantee that your property will look its best, after all you’ll have the returns back bigger once you sell your own home.

The only time you may should step out into the chilly for this home enchancment activity is strolling out of your automotive to the shop to pick up your new fixtures. Other markets which might be liable for the top 10 public / Home Improvement numbers are: Detroit, Atlanta.

In truth lavatory residence enchancment is just one of the best place to begin our renovation job, how we are able to achieve fairly a metamorphosis with a bit imagination, taste and drops, in fact, a number of primary abilities. It could be very tiring for those who transfer to a brand new house and because of this, home improvement needs to be what it is advisable do. This is a perfect solution in order that you will feel like you might be residing in a brand new area.

The a part of Home Improvement that finest exemplified gender stereotypes have been the Tool Time” segments Tim’s career on Home Improvement revolved around his own residence enchancment tv present called Tool Time” with its own instrument woman” ( Pamela Anderson , followed by Debbe Dunning ) who typically wore skimpy outfits and had been consistently checked out as eye sweet.…

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Home Improvement Loans (5)

Life of a single woman is often a tough path and coping with the every day necessities of life is much more a struggling affair. Though many dwelling enchancment loans are similar to mortgage loans and may even use the same lender, they’re still a separate mortgage and are repaid over a special period than the mortgage itself. In each of these mid-measurement cities, began about fifty five percent of the residents or accomplished a house enchancment or transforming undertaking in the previous yr. If you get pleasure from doing issues on your own, you may want to explore the world of residence enchancment. One is normal residence improvement equity mortgage whereby you get the lump sum payment of the loan quantity. When you own a house, you could pledge it as a safety to avail a Home Improvement mortgage. We specialize in substitute windows, replacement doorways, and siding on your residence improvement wants.

But critically, this is a wonderful hub to actually inspire some home improvement projects. When you shouldn’t have ample funds to hold out Home Improvement job, you possibly can take out a Home Improvement mortgage. The home enchancment objects that have lasting worth really attraction to me (and hopefully to my checkbook down the road). Insulating your property is one of the best options for residing green dwelling enchancment. The threat of substitutes in the dwelling enchancment retailing business could also be thought of low. The dwelling enchancment might be started with a straightforward paint job or you possibly can have a significant renovation performed to your private home. Instead of obtaining those common looking cookie cutter cabinets that dwelling enchancment shops such as Porte in vetro offer, why not opt for the custom-made cabinets which you could order out of your native woodworker.

One more cheap dwelling improvement tip is to improve your kitchen is by making new covers for the Serramenti on the kitchen cabinets. To conclude, while you may have been uncertain of house enchancment up to now, now you are conscious of exactly learn how to go about it. Fantastic!

Because money is going residence improvement is the results of these enhancements can improve the value of the property, at the identical time that the equity in your house will improve. Home enchancment equity loans will present you the suitable platform to change your home of living into a home. Home Improvement might embody portray, flooring, roofing, wall coverings, woodworking, inside decoration, and so on. You need to get some residence enchancment tasks so that you can improve the bodily situation of your home and improve its value. Your residence may be more fulfilling to reside in, be worth extra and be extra engaging as you use this advice to complete even the most advanced house enchancment undertaking. The tips supplied right here might be essential in selecting colors for your dwelling improvement painting mission. Be sure your transforming contractor has the experience you need to your house enchancment undertaking.

The only …

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Home Improvement Loans (3)

Men are Pigs …” claimed Tim Allen, who reached the head of his profession as a slapstick comedian while utilizing that title for his present, …too bad we own the whole lot!” he jokingly completed, adopted by eruptions of laughter. It is typically in some minor residence improvement tasks to intensify wood, to enhance the grain pattern, to alter the appearance of the wood, to emphasise the finer points of the furnishings, or to make it appear like one other sort of wooden. When it comes time to work on a house enchancment endeavor that entails the bathroom, house owners are searching for elongated bathrooms, bathtubs and showers, together with good cabinetry and tile work.

Well, many of the residence house owners these days suppose or plan for a house improvement project by themselves, figuring out that they can eliminate the labor expense and chop a challenge’s value in half than hiring a contractor. With a Home Improvement loan, it’s attainable that your home to pay for its own repairs and additions. Continue studying for some important ideas for home improvement with out spending your whole money. However, Tim would also use the show to usually vent about women as a result of, in keeping with him, Tool Time” wasn’t always about residence improvement but about male enchancment as properly.

In the long run, you’ll exchange all the wallpapers in your home nevertheless, this job shouldn’t be complicated to do, as a matter of truth, even consultants said that changing the wallpaper is one sort of Infissi residence enchancment undertaking that is really easy to do.

In truth bathroom dwelling enchancment is simply the most effective place to begin our renovation job, how we are able to achieve quite a change with a little bit creativeness, style and drops, in fact, just a few fundamental abilities. It would be very tiring in case you move to a new house and because of this, dwelling improvement needs to be what it is advisable do. This is an ideal solution in order that you will really feel like you’re dwelling in a new area.

If this strikes a chord with you, what you need is various methods on choosing colors to your home improvement painting challenge. Selecting probably the most applicable flooring to your home’s enchancment can give you complications. I haven’t seen Home Improvement reruns for a few years, however I never bear in mind it being this weak. What you can do as one of many reasonably priced tips for dwelling enchancment is to modify the votives hanging within the partitions with decorations which might be more fashionable and more moderen. Low voltage kits are bought at many hardware and residential improvement shops and include a built-in transformer that has a timer. There are three kinds of customers for the house improvement retailing business.…

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