Get it done with a home improvement loan

Home repairs, renovations, and remodels—without tapping into savings.

An upgraded living space sure sounds nice. What if you could do home improvements without drawing from your savings or burdening your credit cards? Thanks to home improvement loans at Alaska USA, you can!


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What can I do with a home improvement loan?

Probably a lot more than you think. From new appliances or home repairs, to adding on a deck to your home, an FHA Title I Home Improvement Loan is just the thing to refresh your living space—and maybe increase the value of your home while you’re at it! Improvements can include:

  • New roof or flooring
  • New plumbing or heating system
  • New built-in appliances such as a dishwasher or oven
  • Energy efficiency improvements including solar panels
  • Accessibility improvements such as ramps, widened doorways, or other remodeling required for wheelchair access


Removable appliances and items that are considered luxury items such as hot tubs, greenhouses, and landscaping cannot be financed with an FHA Title I Home Improvement Loan. Ask about an Alaska USA Home Equity Loan or HELOC as an affordable alternative.

How much can I borrow for home improvement?

The amount of the loan is based, in part, on the type of property you own:

  • Single-family – up to $25,000
  • Duplex – up to $24,000 (maximum $12,000/unit)
  • Tri-plex – up to $36,000 (maximum $12,000/unit)
  • Four-plex – up to $48,000 (maximum $12,000/unit)
  • Mobile home – up to $5,000


There is no origination fee, no title insurance necessary, and no credit report fee. However, an FHA insurance fee equal to 1% of the original loan amount is required. Loan approval is based on Alaska USA’s credit lending policy.


Not sure how much you’ll need? Learn how to budget for a remodel.

What to expect

1. Apply

Contact us using the form to the right (scroll on mobile) to get the process started or use our easy, online application.


2. Get approved

We’ll review your application and let you know if you’ve been approved within 5-7 business days.1


3. Use the funds

If approved, you’ll have access to the funds within 30 business days2 to start your project!



Why an FHA Title I Home Improvement Loan?

When it comes to funding a home improvement project, most people think of applying for a home equity loan or home equity line of credit (HELOC) first. However, if you don’t have much home equity, an FHA Title I Home Improvement Loan might be the right option for you. Give us a call at 800-525-9094 to discuss your options.


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Contact Alaska USA Federal Credit Union


1Loan decisions may take longer if additional documentation is required to prove creditworthiness.
2Deposits may take longer if we cannot verify your account information.

About the improvements

  • You can do the work yourself, but payment for your own time cannot be included in the financing.
  • You should provide a written summary of the planned improvement. Copies of bid estimates for materials and labor from your contractor must be submitted to determine maximum loan amount.
  • Improvements financed with an FHA Title I Home Improvement Loan must be started after the loan is approved. If you’re in the middle of a project and need additional financing, you may be able to finance the unfinished part of your project. Alternatively, you may consider an Alaska USA Home Equity Loan or Home Equity Line of Credit (HELOC).
  • If your plans change after the loan is approved, you should send a change request letter to Alaska USA for approval to ensure that your new plans meet the program guidelines.
  • Improvements must be completed within 6 to 12 months.
  • A final inspection and a certificate of completion will also be necessary as specified by HUD (U.S. Department of Housing and Urban Development).

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You will need your Social Security Number, Government-issued ID, and information for funding your new account handy during the enrollment process.

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