FHA 203(k) and PowerSaver Loan Offerings From Sun West Mortgage Company, Inc. Extended With New FHA PowerSaver 203(k) Program as a Single Home Improvement Solution for Homebuyers
FOR IMMEDIATE RELEASE
CERRITOS, Calif. --- Sun West Mortgage Company, Inc. NMLS ID 3277 (Sun West) introduces
the new Federal Housing Administration (FHA)-insured PowerSaver 203(k) program which
allows federal grant funds to cover certain closing costs when energy-efficient improvements
are included in a purchase or refinance of a home. Homebuyers may now finance between
$3,500 and $25,000 in energy-saving and home rehabilitation improvements with low cost
financing available on a variety of home improvement projects.
Sun West is one of the few lenders approved by the U.S. Department of Housing and Urban
Development (HUD) and chosen by the FHA to offer this unique combination program of FHA
203(k) and PowerSaver, the FHA PowerSaver 203(k) home loan program. According to Sun
West Chief Executive Officer Pavan Agarwal, "This exciting new product, is a part of our
corporate missions to provide affordable home ownership and to promote green communities.
With nearly 35 years of FHA lending experience, we are honored to have been selected by
HUD for this pilot program."
FHA PowerSaver 203(k) program, a comprehensive home improvement loan, provides
homebuyers a more cost-effective way to make repairs and home improvements by
streamlining the home financing process. Homebuyers can reduce their overall financing costs
by using the standard FHA PowerSaver 203(k) rehabilitation loan amount and federal grant
funds. Eligible energy-efficient improvements have been proven to lower energy bills and with
this loan the improvements include: insulation, solar, windows, air conditioning, heating,
doors and more.
"Since 1980, Sun West has been fulfilling its mission of helping our clients with the highest
level of service and integrity, and we are pleased to take part in this special prerogative to
build affordable and environmentally friendly communities of the future," said Agarwal. By
increasing homebuyers funding resources and providing access to a fuller array of
improvement options approved by the FHA and U.S. Department of Energy (DOE), both
borrowers and lenders alike will be able to take significant advantage of the new FHA
PowerSaver 203(k) program.
For additional information and updates about Sun West Mortgage Company, Inc., visit http://www.swmc.com.
About Sun West Mortgage Company, Inc. (NMLS ID 3277)
Sun West Mortgage Company, Inc. is licensed nationwide and is a full service, mortgage banker established in 1980.
The company's excellent service and fast turn-time has made Sun West a multi-billion dollar national originator.
As a result, Sun West is a leader in offering a diverse set of products with low rates and excellent pricing.
Sun West is a HUD-approved mortgagee (FHA & HECM), VA LAPP approved, USDA lender, Fannie Mae and Freddie Mac Seller Servicer
and Ginnie Mae Issuer. Sun West is a national leader in HMBS, residential, and commercial securitization.
Visit http://www.swmc.com/swmc/disclaimer.php for the full list of license information or
refer to http://www.nmlsconsumeraccess.org to see where Sun West Mortgage Company,
Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (main)
licensed location of Sun West Mortgage Company, Inc. is 18303 Gridley Road in Cerritos, CA
90703, Phone: (800) 453-7884.
About FHA PowerSaver 203(k) Loan
As a federally insured loan program, the FHA PowerSaver 203(k) expansion program is a part
of the federal government's initiative to increase home values and the quality of living by
achieving higher energy-efficiency and long-term affordable, sustainable communities
nationwide. Visit http://www.203kguide101.com to learn more about this product.
About FHA 203(k) Rehabilitation Loan
As a federally insured loan program, the FHA 203(k) is designed to help homebuyers make home improvement repairs and finance certain
related expenses in the purchase or refinance of their home. The 203(k) program covers home improvement and the modernization projects
in areas such as: interior, exterior, structural, health and safety, landscaping and energy-conservation upgrades. Please visit
http://loantorepairhome.com/ to learn more
about this product.
About FHA PowerSaver Loan
As a federally insured, subordinate lien, loan program with a maximum loan amount of
$25,000, the FHA PowerSaver option is intended to give existing homeowners the opportunity
to make energy-efficient improvements to their homes and reduce greenhouse gas emissions
by completing eligible improvements. Eligible improvements are energy-efficient and
renewable energy upgrades such as: solar power, insulation, duct sealing and heating. Visit
http://www.powersaverloan.com to learn more about this product.
Sun West Mortgage Company, Inc.
18000 Studebaker Road
Cerritos, CA 90703
SOURCE: Sun West Mortgage Company, Inc.
Link to Full Document