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The confusion comes with the GSEs not specifically stating what’s required for a home to be considered suitable for year-round use.
#Mini nicnt not permanent mac#
Freddie Mac says the property must be suitable for year-round occupancy regardless of the location, except as specifically permitted otherwise in Section 4201.15 for certain second homes. Agency Guidelines on Permanent Heat Sourcesįannie Mae and Freddie Mac have slightly different statements around permanent heat sources.įannie Mae says that properties that are not suitable for year-round occupancy regardless of location are ineligible. Sources such as space heaters that are not installed or fireplaces and wood stoves would not fit the description of permanent and self-fueled. This would include forced warm air heated by gas or electric, radiant heat, baseboard units heated by electric, or installed wall units. Definition of Permanent Heat SourceĪ reliable heat source is defined as permanently installed and self-fueled. In this post, we’ll dive into these questions so you feel confident the next time a question around permanent heat sources comes up. While many of us may take a permanent heat source for granted, there are plenty of questions that arise about how universal guidelines for heat sources are, in which states do they apply, what kinds of properties do they apply to, and more.
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My guess is because you’re an underwriter, you probably have. As you start turning up your thermostat to ward off dropping temperatures, have you ever stopped to think about the permanent heat source in your home and what was considered for underwriting that home?