Friday, March 16, 2007

more wee Answers

I chatted with the lender who has done some weeHouses before. His main message was that whatever we do with the house it needs to have "comparables" in the area. This means homes in the area that have similar features so they can loan you the proper amount of money. This means the composting toilet and solar panels are most likely out...or at the least cannot be our sole plumbing and electric sources. (I did bring up the fact that that makes it difficult to start using environmentally friendly alternatives, etc, etc.)

He also explained that weeHomes are not manufactured homes, because weeHomes are built to Fannie Mae/Freddie Mac standards, not HUD standards. HUD standards are a lot lower. The weeHouses are built to site standards such as BOCA or IRC.

The house needs to get a certificate of occupancy to get the loan, so that means the foundation
must meed the county guidelines.

We can get pre-qualified and he suggests we call him once we have found the land.

We won't be posting for the next few days, as we will be on vacation! See you when we get back!

Oh and here are two interesting articles about small houses and why buying a house is not always the best idea.

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