LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

FHA streamlined 203k loan and Energy Efficient Mortgage?

Posted By Message

AScottWolf
I <3 our squish!

Member since 11/10

2237 total posts

Name:
Adriana

FHA streamlined 203k loan and Energy Efficient Mortgage?

Anyone familiar or have experience with this type of loan? From what i've read they allow you to take an additional 35k loan to be combined with your FHA loan in order to do certain repairs and updates to a home and that it CAN be combined with a Energy Efficient Mortgage.

Anyone have experience with either?

TIA

Posted 1/9/12 4:41 PM
 
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource
  |   Long Island Weddings

alli3131
Peanut is here!!!!!!

Member since 5/09

18388 total posts

Name:
Allison

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

FM Beth. I think she has info on it. And has contact info for mortgage broker who is knowledgeable in them.

Posted 1/9/12 5:44 PM
 

AScottWolf
I <3 our squish!

Member since 11/10

2237 total posts

Name:
Adriana

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

great. thanks.

Posted 1/9/12 5:50 PM
 

megsm3
Life is Good!!

Member since 8/06

3867 total posts

Name:
M

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

We actually just spoke to our mortgage broker today about the 203k loan. I would also love to hear what others have to say about it.

Posted 1/9/12 7:46 PM
 

skinny
3 boys and a princess!

Member since 11/08

8178 total posts

Name:
Momma

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

My DH is a contractor who has done work for people who used a 203K loan. They had to complete a lot of additional paperwork to get it approved. He had to complete a lot of paperwork too (verifying insurance, license info, referrals, etc). IMO, it's worth it because you get to use the $ to fix up your house. The bank releases a certain % of the $ upfront and then checks back on the status of the repairs and releases additional $ as different parts of the work get completed.

Posted 1/10/12 8:24 AM
 

Lisa68
LIF Infant

Member since 9/05

171 total posts

Name:
Hanisa

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

We are looking into the same thing too. Any information anyone had is appreciated.

Beth- You may be getting alot of fms on this. Chat Icon

Posted 1/10/12 12:54 PM
 

JoesWife628
Our family is complete :)

Member since 8/08

3934 total posts

Name:
Me

Re: FHA streamlined 203k loan and Energy Efficient Mortgage?

We bought our home and had a 203 k loan. Please fm me with any questions. The process was easier than i thought it would be!

Posted 1/10/12 4:17 PM
 
 
Quick navigation:   
Currently 1083709 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows