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Are Solar Panels Considered Second Mortgage
If the FHA Title I loan is under $7,500, the title I loan is considered an unsecured personal renovation loan. However, any Title I loans greater that $7,500 up to $25,000 is considered a second mortgage and the lien is placed on the house behind the first mortgage.
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2 Replies
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Instead of going through FHA TITLE I LOANS the easy alternative is to get a second non-qm loans up to 70% LTV. But the minimum loan amount is $75,000.
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We are looking for wholesale mortgage investors for FHA TITLE 1 LOANS