Energy Efficient FHA Mortgage –

• It is designed to improve the comfort and efficiency of a home.  An EEM will have an immediate effect by lowering your monthly utility bills while increasing your home’s resale value.

• The amount of home you can afford is determined by your total monthly costs.  If you can cut down on the costs, you will be able to get the home you really dream of.  For example, if you can reduce your utility bills by $100 a month, you could purchase a home with a purchase price of approximately $15,000 more without raising your monthly outlay of costs.

• The best way to determine the efficiency of the home is with a home energy rating system (HERS) report.  This report evaluates how the home uses energy.  The cost of the evaluation and report is approximately $200 – $300 and can be rolled into your mortgage.  A HERS representative will visit your home to take measurements to determine your estimated energy use and provide a list of recommendations will be made to reduce your energy bills by 30% – 50%.

• The HERS report will be reviews with your loan documents to determine which energy savings options you are eligible for and what choices will maximize your savings.

• A meeting will be set up with Energy Consultant.  A list of actions will be approved by you and an amount of money will be put into your escrow account to pay for the improvements.  This means that you do not need any up-front money.
• Once your loan closes the installation process begins.  Within 90 days the improvements are complete and you will begin seeing reduced energy costs and increased comfort in your new home.  Then the funds will be distributed to the contractorss who performed the work.

Renovation Plus Mortgage –

• A renovation plus loan will permit a borrower to purchase a home in As-Is condition and add improvements into the loan.
• If the property is not habitable at closing, the home buyer may escrow up to six months of mortgage payments into the loan thereby avoiding making payments while the rehab is being done.
• If the borrower needs $35,000 or less, then the loan is a streamline renovation loan and a HUD consultant is not needed.
• If the borrower needs over $35,000, then a HUD consultant is needed to follow the project to completion.
• This financing can also apply to a mixed use building whereby 60% of the building is for residential use.
• The interest rate for a renovation loan is typically 1% higher than a normal FHA loan but once the work is completed, you can streamline your loan to lower your interest rate and lower your payments

I know these types of financing may seem too good to be true but they are not, they are a great option for people wanting to purchase an older home that is not energy efficient by today’s standards or to purchase a bank repo or estate home that needs renovations.  This could really help sell some of the homes in our market that buyers are overlooking.

If you are interesting in getting additional information about these types of loans, give me a call and I can put you in touch with a reputable lender who can answer your questions and then we can go find that dream home.

I hope you enjoy this information and that it helps you or someone you know.!  We at the Marchant Team always strive to deliver our real estate service with the newest and proven tools to assist you with your real estate needs!  I love making dreams come true, one home at a time!

Kim Carpenter “Kimsellsindy.com” – Geist/Indianapolis Real Estate Agent

sold@kimsellsindy.com

317-509-4000

3BR/2BA home with 2 car detached garage and a detached carport/shelter with fireplace, great for parties. Located on 1.96 acres and conveniently located in Fishers with easy access to the interstate. Home needs some plumbing repairs. Great opportunity!!! Possible Commercial Potential! Property being sold as-is!!!

Spectacular scenic lot in the heart of Village of West Clay, overlooking the quiet solitude of the neighborhood park and private rear yard. Build your home in the center of this unique neighborhood featuring stunning architecture, unsurpassed amenities and the village center.

Saturday, December 12, 2009

10:00 a.m. – 12:00 p.m.

During this time of Thanksgiving, as we reflect on the things we’re most thankful for…

YOU & YOUR FAMILY are at the top of our list!

As our way of saying “Thank You”

for your continued friendship, support, & the valued referrals of your friends,

we want to personally invite you to our office to come &

celebrate the season with us!

Come & Enjoy!

• Pictures with Santa – These will be great to use on your Christmas Cards to friends & family!

• Cookies, Crafts, & Coloring will be provided.  please bring all of your loved ones to enjoy.

Kim Carpenter

The Marchant Team

Keller Williams Realty Indy Metro Northeast

11800 Exit 5 Parkway Ste 102

Fishers, IN 46037

317-509-4000

sold@kimsellsindy.com

www.kimsellsindy.com

Please RSVP to 317-509-4000

]]> http://www.kimsellsindy.com/come-and-join-me-for-our-annual-keller-williams-holiday-event/feed/ 0 http://www.kimsellsindy.com/october-existing-home-sales-show-improvement-over-last-october/ http://www.kimsellsindy.com/october-existing-home-sales-show-improvement-over-last-october/#comments Tue, 01 Dec 2009 00:50:55 +0000 admin http://www.kimsellsindy.com/indyrealestate/?p=1252 The Indiana Association of Realtors has released it’s”Indiana Real Estate Markets Report ” for October, comparing October 2009 vs. October 2008.  The full report can be found online at  IndianaIsHome.com. This is a hopeful sign for those looking to buy or sell.

Hamilton County sales are up 29.2% with the median sales price decreasing 2.4% from $196,000 to $191,250.

Marion County sales are up 23.7% with the median sales price increasing from $82,000 to $92,500.

If you are a move-up buyer, now may be a great time to make that move, with inventory high and mortgage interest rates low, why wait?

Call the realtor that gets results!!

Kim Carpenter

The Marchant Team

Keller Williams Indy Metro NE

317-509-4000

Geist waterfront estate w/spectacular panoramic views from every angle.  Located off a private drive with  120 ft of water frontage, private boat dock and a .80 acre lot, this homesite is like no other.  The home is totally updated & meticulously maintained w/finishes & architectural detail that will exceed your expectations!  Open floor plan, multi-level decks & patios make for great entertaining.  Priced below appraised value, this is an unbelievable opportunity

Spacious lot in gated Fishers community.  Country living at it’s best!!!  This gated community offers larger homesites, a relaxing 7.44 acre lake and truly custom homes!!  Close to Hamilton Town Center, schools, & easy access to I-69, this homesite has it all!!!  Pick your builder and build your dream home!!!

Welcome home to this well maintained 3BR home featuring an open floor plan with loft overlooking the great room!! All appliances are included in the purchase, even the washer & dryer. All you need to do is move in!! This home is eligible for USDA financing, 0% down & no PMI!!! Come home to this great neighborhood with pool, tennis courts, playground, soccer fields. Close to Hamilton Town Center with easy access to I-69 & SR 37. What more could you want?

This 4+ bedroom home offers a formal living rm that could be a den, gleaming hardwoods, cozy FR w/a gas frplc, formal DR & an updated kitchen featuring granite tops, tile backsplash,