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Old 02-18-2009, 02:44 PM
 
Location: Southwest Nebraska
1,297 posts, read 4,023,684 times
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Does FHA have a limit on how little you can borrow?

Can you use energy credit they allow and have a Thermal heating and cooling system put in?


Same with low E windows?

Can spouse use my disability income and special deals allowed for disability on her application with FHA if I am not on loan?
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Old 02-18-2009, 03:07 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,097,275 times
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Quote:
Originally Posted by Bigg Mann View Post
Does FHA have a limit on how little you can borrow?
No, but some lenders do have minimum loan amounts instituted. Some lenders also have pricing hits on the lower loan amounts, so the rate may be a touch higher at $50,000 as opposed to $100,000.

Quote:
Originally Posted by Bigg Mann View Post
Can you use energy credit they allow and have a Thermal heating and cooling system put in?


Same with low E windows?
Yes. The Energy Efficient Mortgage program will allow you to finance 100% of the cost of eligible energy efficient imporvements. You are capped, however, at 5% of the the property value not to exceed $8000 or $4000, whichever is greater. There are a few other conditions as it relates to cost effectiveness, and there are a couple of hoops that you will have to jump through.

Quote:
Originally Posted by Bigg Mann View Post
Can spouse use my disability income and special deals allowed for disability on her application with FHA if I am not on loan?
No. Your income can only be used if you are on the loan.
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