The FHA 203k Renovation Loan Is The Real “Green Home Loan” As Energy-Efficient Improvments And Non-Toxic Building Materials Can Be Combined To Into One Renovation Transaction

7 06 2011
  • A “Green Home” conserves energy and uses of non-toxic building materials
  • The conservation of energy saves on heating and cooling costs
  • The of non-toxic materials is very important for health and environmental reasons
  • Energy inefficient homes increase the overall monthly costs of a home
  • The use of toxic materials can damage health and actually create serious health problems like asthma, allergies, skin issues, headaches, eye irritation and dizziness
  • The FHA 203k Rehabilitation mortgage allows a borrower to purchase or refinance a home while financing the costs of renovation to the property
  • A home renovation can utilize non-toxic building materials such as non-VOC (volatile organic compounds) paints; sealants that contain polyether rather than urethane or silicone bases; plywood that is free of formaldehyde; and natural clay plaster for walls instead of drywall (gypsum board)
  • This turns a “K” into a “Green K”, helping a borrower create a much healthier environment for the family living in the property
  • The FHA 203k can significantly reduce the time required to purge the market of real estate-owned (REO) and bank-owned stock
  • The REO stock move faster and the banks could sell their REOs for higher prices
  • Because the condition of a typical REO property is often quite poor, an owner-occupied homebuyer won’t have the cash to fix it up
  • The bank would have to drop the price drasticly to attract investors with the cash to renovate it
  • But the homebuyer who uses an FHA 203k Renovation loan can pay a higher price and have the money to renovate

For more:  http://nationalmortgageprofessional.com/news25436/help-clients-go-green-fha

Advertisements

Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s




%d bloggers like this: