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New FHA Power Saver Loan Program

January 26th, 2011

HUD recently proposed Power Saver loans to fund home improvement measures on FHA’s list of “eligible measures” with no energy audit or rating.

The new FHA loan is a pilot program created to help homeowners finance energy efficient home improvements. HUD said that FHA will insure these home improvement loans and many FHA lenders are excited about the prospects of helping the environment.

The PowerSaver pilot could help test and demonstrate an important concept that could lead to better, more precise underwriting for FHA insured loans and in the broader mortgage market. To accomplish this, the loans made in the pilot and the information collected must match the credit policy questions presented.  A home energy rating will provide the needed information, we believe that the entire mortgage industry, especially the federal mortgage programs, could learn from the results Read more FHA articles, > Power Saver Loan Program  & HUD’s New Energy Efficient Initiatives.

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Energy Efficient Financing, FHA Loan Updates