Can I Get Appliances With A 203K Mortgage?
The purchase of a house that needs repair is often a catch-22 situation, because the bank won’t lend the money to buy the house until the repairs are complete, and the repairs can’t be done until the house has been purchased. As covered in previous articles, the streamlined loan covers light repairs. Unlike the 203(k) loans, the streamlined version does not require homeowners to hire licensed architects, contractors or engineers. The streamlined 203(k) loan involves significantly less paperwork than the non-streamlined version. The loans are not limited to a specific housing type or geographic area. Projects covered by a streamlined 203(k) include: • Roofs and gutters • Heating, venting and air conditioning • Plumbing and electrical • Minor kitchen...
Read MoreEnergy Efficient Clothes Washers Deliver Money And Energy Savings
Another eligible purchase on your 203k Streamline Mortgage includes appliances; more specifically, a washer and/or dryer. Are you washing your home energy budget down the drain? Well, the solution to that could be as simple as replacing your old clothes washer with a new ENERGY STAR qualified one! ENERGY STAR qualified clothes washers use half the amount of water of standard washers, saving between 8,000 – 11,000 gallons of water per year. They are also cheaper to operate and use up to 30% less energy than standard models. According to the U.S. Department of Energy, if your washer is over 10 years old, replacing it with a new ENERGY STAR qualified clothes washer can save you up to $135 per year on your energy bill. Technological innovations of ENERGY STAR...
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