Purchase, Rehab, Conserve Energy: 1 Loan!
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Javeton
Jun 30, 2009, 9:04:42 PM6/30/09
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The energy conservation feature of FHA-insured 203k mortgages adds a
third dimension to the program. Not only is a home buyer able to
purchase a home with low out-of-pocket upfront funds AND have needed
repairs financed in the mortgage loan; that homebuyer will also
receive additional consideration when he/she authorizes the use of
"energy conservation" materials to complete repairs that will render
the after-repaired property more energy efficient. Up to a 20%
increase above the maximum allowable mortgage amount is available, if
needed, for the installation of solar heating.
Feel free to join this conversation or one already started.
Javeton-
third dimension to the program. Not only is a home buyer able to
purchase a home with low out-of-pocket upfront funds AND have needed
repairs financed in the mortgage loan; that homebuyer will also
receive additional consideration when he/she authorizes the use of
"energy conservation" materials to complete repairs that will render
the after-repaired property more energy efficient. Up to a 20%
increase above the maximum allowable mortgage amount is available, if
needed, for the installation of solar heating.
Feel free to join this conversation or one already started.
Javeton-
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