Archive for the 'Green Mortgages' Category
203(k) Mortgages
August 28th, 2008 categories: Buyer's Advice, Green Mortgages
Streamline 203(k) Mortgages
FHA’s 203(k) streamlined rehabilitation loan. This versatile product, while not designed exclusively for energy purposes, can be used to finance up to $35,000 in energy upgrades to a property. From insulation, windows or solar panels, to a new furnace—virtually any energy feature qualifies. Environmental retrofits such as radon mitigation systems are also eligible under the 203(k) program.
The Section 203(k) program is HUD’s primary program for the rehabilitation and repair of single family properties. It is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities.
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