Sacramento - Solar Panel Purchase/Installation Financing - 203k renovation/rehab loan - California

There is no doubt that alternative energy is the way of the future. Many, especially in California, are quite aware of the benefits of going green and using solar energy as an alternative. Using alternative energy is not only a good way to save money on utility bills, but it's also extremely helpful for the environment.

One of the biggest challenges when facing the decision to go green is affordability. Up until recently, not many financing options have been available or the technology has not been sufficient enough to offset the cost of the system with the savings. This is where I would like to once again bring up the FHA 203k renovation loan and how it can be used as a financing option for homeowners. I will not go into the loan details as it is very complicated. This program can be used for a purchase of a home and as a refinance. Either scenario, the financing can exceed the value of the house up to at least 110%.

Below are the main ways to take advantage of Energy Efficiency allowance in the 203k loan program.

1.) Green Up Your Appliances — FHA 203K loans will finance new free standing appliances for your home. Why not use that opportunity to buy EPA recommended ENERGY STAR appliances? Imagine beautiful stainless appliances that save you a bundle in monthly energy costs.

2.) Save Water, Save Energy — You can finance brand new low flow toilets as well as tankless water heaters. Low flow toilets use less than half the water that older models do and tankless waters provide unlimited hot water without all the wasted energy of a constantly running water heater.
3.) Want New Flooring? — Opt for sustainable bamboo flooring. Bamboo reproduces itself to maturity in 5 years as opposed to the 40-100 years than normal hardwoods take. Make sure and opt for formaldehyde free glues.

4.) Renovate, Reuse, Recycle, Restore — When you build new you are using new materials, but when you renovate you have the opportunity to reuse older materials that might have found their way into a landfill otherwise. Renovation is the definition of green because you can restore, recycle and reuse materials already in use.

5.) Solar Panels — Solar is one of the easiest ways to dramatically cut monthly energy bills. Installing solar panels is so encouraged by HUD that they will allow you to exceed statutory loan limits to do so. In many cases the Federal, State and Utility company tax credits will pay for a good portion of the purchase and installment of solar panels. The rest we can finance. Yep, FHA 203K covers solar installation as well!

6.) Better Insulation — An obvious choice for a green home, insulating your home better can help you save thousands on energy bills.

7.) Choosing Green Building Materials — A key aspect of any green FHA 203K renovation is the selection of environmentally friendly building materials. To reduce transport pollution and energy costs go local first. The second thing to look for is recyclable materials such as Glass, Terrazzo, Ceramic and Porcelain.

As always, feel free to comment and ask questions as I am sure there will be plenty!

For further information please visit: www.fhamadesimple.com