Financing in Cerritos>Question Details

Tracy, Real Estate Pro in Cerritos, CA

will fha lend on a property with high voltage lines near property?

Asked by Tracy, Cerritos, CA Fri Nov 13, 2009

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M.D.J’s answer
A loan can be done for that property if a letter is provided from the agency / company that maintain the high voltage wires indicating the safety to the property. The concern is the tower falling over but they are designed to collapse.

Need help or have any further financing questions feel free to contact me.

Good Luck.
1 vote Thank Flag Link Fri Nov 13, 2009
If the dwelling or related property improvement is located within such an easement, the DE Underwriter must obtain a letter from the owner or operator of the tower indicating that the dwelling and its related property improvements are not located within the tower's (engineered) fall distance in order to waive this requirement.
0 votes Thank Flag Link Fri Oct 19, 2012
You asked the wrong question. The real question is "what does having power lines close to a property mean to me?"

Power lines are terrible for resale. It is similar to having toxic waste in the back yard. People see it and drive away. Some people think it gives cancer and other health problems. I have been told that it can cause problems with your electrical appliances.

If you ever want to resell the place it is a big barrier. It results in lower prices and will remain an objection to most buyers at any point in time. Would it make more sense to look at another place that is easier to resell if you ever need to?
0 votes Thank Flag Link Sat Nov 14, 2009
No, sorry.

A direct clause as specified in FHA guidelines state: "Any dwelling located within 200 yards of any high voltage source unless deemed safe by the National Power Company cannot be insured due to the likeliness of destruction."

sorry, looks like you're out of luck =(
Web Reference: http://www.fha.gov
0 votes Thank Flag Link Fri Nov 13, 2009
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