Before applying for the Home Improvement Loan, you should ensure that you meet the minimum requirements. To know if you meet the minimum requirements you should answer the following questions at the time of your application:
- Do you own a home that you can improve upon OR do you have legal permission to improve upon a home owned by someone else who has a Registered Title for the land?
- Do you earn an income that allows you to repay the loan? (click here to check with our Mortgage Calculator)
- Are you now contributing to the NHT?
- Have you made at least 52 weekly contributions, 13 of which were made during the last 26 weeks?
- Are you able to account for your contributions and have paid up, with interest, any outstanding contributions due in the last 3 years?
- Are you between the age of 18 and 65 years?
If you answer ‘Yes’ to all of the questions above then you would have met the minimum requirements for applying. You should then contact your NHT Office for a list of the documents that you will need for your loan interview.
Once you have all the required documents and information you should call and schedule an appointment with us for your loan interview.
Once you are successful with your loan interview the money is usually paid out within 90 days (other processes external to the NHT may play a part in adding delays to the disbursement of funds).