Property Resource
A list of options that describe the type of financing that the seller currently has in place for the property being sold (i.e., Cash, FHA Loan, etc.).6/17/2021| Standard Value | Definition | Usage |
|---|---|---|
| Assumable | The financing currently in place may be assumed. | 12% |
| Contract | The purchase of a property involves an agreement to perform services, provide product, share income or some other determined method of payment for... | 7% |
| Conventional | The buyer is using conventional financing to purchase the home. | 23% |
| FHA | A loan from an approved provider that follows the guidelines of, and is insured by, the Federal Housing Administration (FHA). | 15% |
| FHA 203(b) | The basic home mortgage loan from an approved provider that follows the guidelines of, and is insured by, the Federal Housing Administration (FHA). | 1% |
| FHA 203(k) | A loan for the rehabilitation and repair of a single-family residence from an approved provider that follows the guidelines of, and is insured by,... | 3% |
| Leased Renewables | A renewable system (i.e., solar or wind) belonging to a third party is installed on a customer’s property at little or no cost to the property owner.... | 1% |
| None | There is no current financing on the property. | 13% |
| Other | The current owner is using another form of financing that is not included in the options provided on this list. | 20% |
| Power Purchase Agreement | A renewable system belonging to a third-party is installed on a customer’s property at little or no up-front cost to the property owner. The property... | 0% |
| Private | Financing is provided by a private party. | 14% |
| Property-Assessed Clean Energy | Property-assessed clean energy (PACE) is a financing tool for property owners to fund energy or water efficiency or renewable energy installations.... | 0% |
| Trust Deed | Financing where property title is placed with a trustee who secures payment of the loan for a beneficiary. | 1% |
| USDA | A loan from an approved provider that follows the guidelines of, and is insured by, the U.S. Department of Agriculture. | 7% |
| VA | A loan from an approved provider that follows the guidelines of, and is insured by, the U.S. Department of Veterans Affairs. | 15% |