In Chicago and the rest of Illinois with renovation PowerSaver grant all a 203K buyer needs is to do 3500.00 of energy efficient updates as part of renovation. Recently a borrower used a 95% efficient furnace to qualify for the grant which is given as a credit at closing of the 203k renovation loan. In addition both Peoples Gas and NICOR Gas will give a rebate worth 900.00 for adding the efficient furnace with a 14.5 SEER AC unit. A great way to fund the most efficient HVAC that AmeriFirst Home Mortgage can help with for any 203k renovation borrower in the Chicago area market.
I hope this post has been helpful and encouraging to those that may have thought a Renovation project was too complex or beyond their ability to manage. My intent is always to inform, educate, and generate discussion. Please call me or email me directly or visit my website for more information on renovation loans. I welcome your comments and questions!