Tighter Requirements for FHA Loans Loom | Lynnhattan

It's about to get tougher to qualify for a Federal Housing Administration (FHA) mortgage, often considered the replacement loan for the collapsed subprime market.

Tighter Requirements for FHA Loans Loom

Written by Realty Times Real Estate News Channel.
Posted on March 10, 2010.
Filed under Real Estate News.
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Contact Information

Email - info@lynnhattan.com
Phone - (617) 378-2135

Bathroom

•	Dropped drywall ceiling, predominantly at an 8’ height.
•	White porcelain toilet.
•	White, ceramic tile (subway style 2” X 3”) tub surround
•	Chrome showerhead, tub spout, and Symmons control valve, or equivalent
•	Original hardwood floors in bathroom.
•	Surface mounted vanity light, and integral ceiling mounted exhaust fan with light.
•	Beveled mirror medicine cabinet (recessed)
•	24" wide vanity, with one piece integral lavatory bowl and backsplash top
•	Chrome lavatory faucet.

Ceilings

•	Heights range from 8 to 16 feet.
•	5/8" gypsum board.

Common Area Flooring

•	Original Terrazzo, or hardwood floors.
•	Rear stairwell has original steel decking.

Door Hardware

•	Residential quality, predominantly polished chrome metal finish.

Communications

•	Telephone, cable TV, and broadband Internet feed a Quick Network panel by Future Smart®, which allows easy switching of services, to any of the pre-wired jacks within the Loft.
•	Instant high speed Internet access to all jacks.

Demising Walls

•	Insulated stud wall with single layer 5/8" gypsum board. Domestic Hot Water
•	Individual 40 gallon+/- electric hot water heater, GE or equivalent.

Electrical Power

•	125 AMP panel in each unit
•	120/240 volt service

Elevator

•	Passenger elevator located in stairwell accessing Exchange Street.

Exterior Entry Doors

•	Original Terrazzo, or hardwood floors.
•	Stained oak door with glass panels in front stairwell.
•	New Hartford Green, single light, aluminum door in rear stairwell

Exterior Walls

•	Original Terrazzo, or hardwood floors.
•	Existing masonry and brick

Fire Suppression

•	Original Terrazzo, or hardwood floors.
•	Existing masonry and brick
•	Entire building is safeguarded by a new fire protection sprinkler system.
•	Each unit’s air conditioning and heating system are controlled separately.

Heating and Cooling

•	Each unit’s air conditioning and heating system are controlled separately.
•	American Standard, extra high efficiency, gas-fired, forced hot air furnaces
•	Two stage furnaces provide not only higher efficiency, but also operate much quieter
•	Heating systems, predominantly hung from ceiling in storage area, and roof mounted condenser units.
•	Exposed spiral unpainted ductwork in all units.

Individual Storage Units

•	Storage loft built into each Condo.

Intercom / Security System

•	Intercom with digital name directory, at both front and rear entrances, connected to every loft via phone system.

Interior Doors

•	Solid wood doors, primed and painted with semi-gloss finish.

Interior Entry Doors

•	Birch veneer, solid core, fire-rated doors

Interior Partitions

•	Standard stud walls with gypsum board each side.
•	Open floor plan without bedroom partitions (i.e., "raw" loft).

Kitchen Appliances and Finish

•	All appliances are Maytag, Stainless Steel.
•	30" 4-burner gas range with oven.
•	36” side by side refrigerator, door dispenser for water & ice
•	Under-counter dishwasher.
•	Space-saver microwave, with built-in ductless exhaust vent.
•	Sink-mounted heavy-duty disposal.
•	Stainless steel sink.

Kitchen Cabinets and Countertops

•	Standard kitchens will consist of birch cabinets with granite countertops and backsplashes.

Laundry Appliances

•	Hookup for stackable washer and electric dryer.

Parking

•	Deeded lot in private parking lot.

Roofing

•	Flat areas are roofed continuously with new, insulated, EPDM membrane roofing.

Trim

•	1x6 wood base trim (1x4 in closets) on non-masonry walls.
•	1x4 door wood trim.

Unit and Common Area Lighting

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1x6 wood base trim (1x4 in closets) on non-masonry walls.

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1x4 door wood trim.

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Vanity light in bathroom

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Lighting in each unit will be unique – the following are examples of what may be found:

-	Track lighting
-	Ceiling fans
-	Wall sconces
-	Recessed lighting

Unit Colors

•	All walls in Benjamin Moore Matte, linen white, or equivalent.
•	All new ceilings in Benjamin Moore, Super White Wall Satin, or equivalent. All Calcimine ceilings with California’s Ox-O-Flow, Flat, Cal-Coater, or equivalent.
•	All interior doors and trims in Benjamin Moore semi-gloss white, or equivalent.

Unit Flooring (except as noted)

•	Existing wood floor refinished with three coats of polyurethane finish.

Utility Room

•	8’ dropped drywall ceiling.
•	Floor consists of a rubber pan with drain.
•	Surface mounted fluorescent light.

Wall, Ceiling & Trim Finish

•	Exposed brick interior perimeter walls where available.
•	Bathroom walls primed and painted, two coats total with semi-gloss finish.
•	All other walls primed and painted, two coats total with flat enamel finish.
•	All ceilings primed and painted, two coats total with flat finish.
•	All trim primed and painted, two coats total with semi-gloss finish.

Windows and Skylights

•	Hunter green aluminum, double-hung, insulated glass, windows with Ultralift balances on lower sash, for easier opening and longer balance life.
•	Over sized windows will have a fixed transom at the top of the window.
•	All operable windows include screens.

View Zillow Listing

$220,000

950 sqft
Open floor plan with loft area
Additional room attached to main living area
Spacious bath
Storage area
Secure entry with intercom
Elevator
Wired for high-speed Internet
Sprinkler systems
Deeded parking spot in private lot
Two minute walk to commuter train & buses
Built in 1924, entirely renovated 2004

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Download PDF files of unit layout, floor plans and site plans.