From the FHA Website:

The Energy Efficient Mortgage Loan program helps current or potential homeowners significantly lower their monthly utility bills by enabling them to incorporate the cost of adding energy efficient improvements into their new home or existing housing. This FHA program eliminates the need for homeowners who are interested in making their home more energy efficient to take out an additional mortgage loan to cover the cost of the improvements they intend to make to their property. The program is available as part of a FHA insured home purchase or by refinancing your current mortgage loan. READ MORE

FHA Green Mortgages- What is a Energy Efficient Mortgage?

In an effort to keep FHA financing changes as simple as possible to understand; here is a brief list of the changes on our horizon for the Real Estate industry to know.

3.5% minimum cash investment for FHA loans (gifts allowed from family members, unions, state and local bond programs, etc). 

• Seller-funded DPA to end, credit approval required by 9/30/08

• 12 month moratorium on FHA risk-based premiums effective 10/1

• Streamlined approval process for FHA condos

• No change to FHA approval requirements (no surety bond in lieu of audited financials)

• Nationwide licensing system for loan originators

• FHA floor at $271,050; ceiling for FHA/Fannie/Freddie at $625,000

• VA should have equivalent guaranty to raise limit to $625,000

FHA financing alive and kicking- Nehemiah on its last leg:

Today, the House of Representatives passed H.R. 3221, a wide sweeping piece of legislation that addresses a variety of housing related issues. The bill is headed for the President's desk where his prompt signature is expected.

On pages 479 - 481 of the bill, the elimination of down payment assistance is cited (SEC. 2113) with an end date of October 1, 2008. The specific language states that the law "shall apply only to mortgages for which the mortgagee has issued credit approval for the borrower on or after October 1, 2008." The full language of SEC. 2113 is included below with a link to the bill at the bottom of this section.

SEC. 2113. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWN PAYMENT ASSISTANCE.

Paragraph (9) of section 203(b) of the National Housing Act (12 U.S.C. 1709(b)(9)) is amended to read as follows:

(9) CASH INVESTMENT REQUIREMENT-

(A) IN GENERAL - mortgage insured under this section shall be executed by a mortgagor who shall have paid, in cash or its equivalent, on account of the property an amount equal to not less than 3.5 percent of the appraised value of the property or such larger amount as the Secretary may determine.

(B) FAMILY MEMBERS - For purposes of this paragraph, the Secretary shall consider as cash or its equivalent any amounts borrowed from a family member (as such term is defined in section 201), subject only to the requirements that, in any case in which the repayment of such borrowed amounts is secured by a lien against the property, that -

(i) such lien shall be subordinate to the mortgage; and
(ii) the sum of the principal obligation of the mortgage and the obligation secured by such lien may not exceed 100 percent of the appraised value of the property plus any initial service charges, appraisal, inspection, and other fees in connection with the mortgage.

(C) PROHIBITED SOURCES.-In no case shall the funds required by subparagraph (A) consist, in whole or in part, of funds provided by any of the following parties before, during, or after closing of the property sale:

(i) The seller or any other person or entity that financially benefits from the transaction.

(ii) Any third party or entity that is reimbursed, directly or indirectly, by any of the parties described in clause (i). This subparagraph shall apply only to mortgages for which the mortgagee has issued credit approval for the borrower on or after October 1, 2008."

H.R. 3221 Amendments (PDF)

• Professional people hire professionals in their field of expertise

Green home loans offer special financing that very few loan consultants understand or know how to access

Here is what the Builder won't tell you

95% of new home home-buyers do no not understand the importance of personal and private representation, typically overpaying an amount of what could have been further negotiated.

99% of new home home-buyers fall victim to the nonrefundable escrow deposit clause.

The use of technology to buy your Green Home in Hansen Lane Estates with minimal impact on the environment i.e. Electronic applications, electronic loan submissions and electronic loan signings...PAPERLESS.

A gift in your name to the environmental agency of your choice along with public recognition at the close of escrow.

Hansen Lane Estates, Danville...Here are 6 things you need to know that will benifit you:

Did you know that FHA allows the lender to deduct the monthly alimony payment from your clents gross monthly income when calculating there debt ratios?

Early Wednesday during the Wells Fargo earnings announcement something completely unexpected took place. POSITIVE EARNINGS form a Mortgage Lender!

"Wells Fargo & Company reported diluted earnings per common share of $0.53 for second quarter 2008 compared with $0.60 in first quarter 2008 and $0.67 in second quarter 2007. Net income was $1.75 billion compared with $2.00 billion in first quarter 2008 and $2.28 billion in second quarter 2007. The Company also announced a quarterly common stock dividend of 34 cents per share, up 10 percent from the previous dividend of 31 cents per share.

"Wells Fargo continued to strengthen its franchise during the second quarter..." said President and CEO John Stumpf.

This may represent a change in the market; meaning there is a Home lender willing to do the unthinkable right now. Lend Money!

Good News for the Real Estate Market: Wells Fargo exceeds revenue-

In an effort to finance and promote Green sustainable homes in the Bay Area I would like to share with you Castleview Estates. I will bring you information as it is released on this 100% self sufficient community in Pleasanton. If you or anyone you may know is looking for Green Real Estate in the San Francisco Bay area please contact me.

PRLog (Press Release) - May 28, 2008 - Alameda County and the California State Senate give a PROCLAMATION AND CERTIFICATE OF RECOGNITION
for the
"First Totally Green Community in California"

CastleView Estates of Green Acres, the first proclaimed Green Community in the State of California, announces Tract 7338 near Pleasanton, in beautiful Alameda County. This secured Gated Community, managed by a California non-profit organization, is self sustained by its own self-contained Sewer and Water District which provides, processes, recycles, and returns the water back to the land to irrigate crops. Power is provided by solar and wind. The 1 to 2.5 acre lots are spacious and afford magnificent views of city lights, the surrounding valley and Mount Diablo and the large, high-end, elegant homes are available at an incredible 20% to 30% below market price. The homes themselves can be built by Palm Harbor, the Nation's leading supplier of Green, sustainable constructed homes, or by local Green contractors.
Come and experience the great opportunity to own a home in a Green Community with state of the art amenities, panoramic views, and spectacular large homes that Castle View Estates delivers.

THE FIRST GREEN SELF-CONTAINED COMMUNITY
IN THE UNITED STATES
AND PROUD OF IT!

I'm excited to announce the arrival of Danville's most prestigious new address. Hansen Lane Estates in Danville, CA built by Clarum Homes is the first zero energy home community in Contra Costa County. It is my goal to work with "Green" minded individuals. Be sure to run and not walk this development of Green Homes in Danville is sure to go fast with the features it boasts. I can recommend some of the areas top agents to help guide you and negotiate the home of your dreams. Please take a look at the builder's site; these Green homes in Danville are sure to move. More to come; it is my goal to bring attention to sustainability designed homes and work along side of individuals that demand better than the rest... A green mortgage experience!

Clarum Homes Presents Hansen Lane Estates; Danville's most prestigious new address

Castleview Estates are touting itself the first 100% green self sufficient development in the United States. The 52-acre development will be a national model as an Ag/City development. Water treated from the residential homes will be treated to support the agriculture irrigating the alfalfa intern feeding the ostrich farm currently located on the Happy Valley property. 

Being the first to totally go green in a community which recycles all of its energy needs and is completely self-contained, it's such a unique concept in California it took years of planning by the CastleView Estates leaders. The uniqueness of this project is such that very high end homes are built GREEN with certification from the Department of Energy with the Energy Smart label.

More details to come soon...

Green living can be as simple as a tweak in your homes design. I recently read an article on "Green Feng Shui". Some of the principles I thought go well with Green Real Estate. Design can influence our overall impact on the environment and home. Here are 6 simple steps that can cut energy costs and improve overall quality and balance in your home environment.

1. Open windows on a regular basis: Improved air flow decreases indoor air pollution and increases energy.

2. Clutter stops the flow of energy. Make a plan to reduce and stop waste.

3. Include a water feature in the house. If not, hang a picture or photograph of water instead.

4. Keep plants to reduce carbon dioxide and bring the outdoors in.

5. Use color in your house with Low-Voc paint that inspires you.

6. Plant deciduous trees and shrubs on the southern side of your home to provide cooling shade in the hot summer months to reduce energy use.

Green Real Estate Can Be So Simple- 6 steps for "Green Feng Shui Living":