- 4 Things Required for a KY Mortgage Loan Approval
- Down Payment Assistance Kentucky 2024 Kentucky Housing Corporation KHC
- Credit Scores Required For A Kentucky Mortgage Loan Approval in 2024
- Kentucky First-time Home Buyer Programs
- Kentucky FHA Mortgage Information
- Kentucky VA Mortgage Loan Information
- USDA Rural Housing Kentucky Loan Information
- Zero Down Kentucky Mortgages
- First-time Home-buyers in Kentucky
- Documents Needed Mortgage Approval in Kentucky
- Free Credit Score Booklet
- Do's & Dont's before closing:
- Closing Costs Kentucky Mortgage
- Lock Kentucky Mortgage Loan Rate
- Home Inspections Kentucky
- Accessibility Statement
Many people ask me what types of heat sources are okay for homes where the borrower is using FHA to finance the property.
Here’s the information – and by the way, USDA (Rural Housing) uses FHA rules listed below as their heat source guidelines too.
• All habitable rooms must have a heat source
• Certain areas of the country do not require a heat source if normal for the area (i.e., Hawaii, certain counties in Florida)
Wood Stoves & Solar Systems
• Acceptable with certification that they were installed according to manufacturer’s recommendations.
• Must ALSO have a conventional heat source in all living areas.
• Must also have a heat source to maintain 50 degrees F in rooms where plumbing is located.
(Example: electric baseboard heat in bathroom, kitchen and basement/crawl space where plumbing pipes are located.)
• If needs repairs or insufficient heat source for home, will require upgrade to conventional heat system.
Non-conventional Heating Systems
• Space heaters or non-conventional heat sources must comply with local codes.
• If does not comply, conventional heating system must be installed.
• Must be located a safe distance from the home.
• Must have ownership of propane tank UNLESS only leased tanks are available and normal for the area.
• Propane furnaces located in crawl space or basement is not acceptable.
I’m sure I have not covered every possibility but give me a call if you have any questions or reservations about listing a home that you think may not have an acceptable source of heat.
Labels: fha appraisal, fha property requirements, fha. appraisals, heat source fha approval appraisal, Sources of Heat for A FHA Mortgage Loan Approval
I have helped over 1300 Kentucky families buy or refinance their home over the last 20 years. Realizing that this is one of the biggest, most important financial transactions a family makes during their lifetime, I always feel honored and respected when I am chosen to originate their personal home loan. You can count on me to deliver on what I say, and I will always give you honest, up-front personal attention you deserve during the loan process. I have several advantages over the large banks in town. First, I can search and negotiate for your loan options through several different mortgage companies across the country to get you the best deal locally. Where most banks will offer offer you their one set of loan products. I have access to over 10 different mortgage companies to broker your loan through to get you the best pricing and loan products that may not fit into the bank's program due to credit, income, or other underwriting issues. You will not get lost in the shuffle like most borrowers do at the mega banks; you're just not a number at our company, you are a person and we will treat you like one throughout the entire process.