The Mafia Guide To Energy Consulting

203(k) Loans Enables Qualifying Home Buyers to Finance Up to 35k For Energy Efficiency Improvements

If you've had clients pass up buying a house because of the expense of anticipated cosmetic repairs, you're missing out on a great prospect. Sure, it was that if you bought a house then applied for a house equity loan to cover repairs, the result could be two separate loans (or worse, a mortgage and a short-term loan for repairs that frequently had a higher interest rate). This is not true anymore if you are eligible for an FHA Streamlined 203(k) loan.


The Department of Housing and Urban Development's FHA Streamlined 203(k) loan enables qualifying home efficiency inspection buyers to fund as much as an additional $35,000 in their mortgage to improve or upgrade their residence before move-in. With this item, property buyers can quickly and easily tap into cash to cover property repairs or enhancements, like those identified with a Energy Auditor. And the best part is, the additional funds are combined to your mortgage, so you simply need to worry about one loan.

There are, of course, principles and guidelines we have to follow, rather than every fix qualifies. However, if you or anyone you know are interested in taking advantage of the fantastic opportunity.

Energy Audit Requirement

Part of qualifying for this particular loan is becoming a Energy Audit done by the appropriate professional. In order to be eligible for this you must have a RESNET Certified HERS rater run an Energy Audit.

is?fff4ylU-ZDgdWi6NB7BL7zC7JIVivB4motdjf It also helps to use an Energy Auditor with experience as the underwriter will need a great deal of paper work in order to get this loan through. It's necessary that you use someone with experience with this type of loan. Inexperience can turn days into weeks and this could loose you the business.