Karl,

I also have not heard of any lending restrictions for geothermal homes and many of the FHA guideline the FNMA wants on guarrentied loans have been softened. There may be a requirement for a heating source in each room which may be an issue with some geo systems. You should also keep in mind that there are many different types of geothermal systems. The best system seems to be the forced air indirect geothermal system with poly tubing because it is less corrosive to the mechanics of the system. In fact with the poly tubing they have reduced the corrosion to almost nothing. You might also visit http://geoheat.oit.edu/ for additional information and research from the alternative energy dept at OIT.
If you are still looking for someone to get prequalified with please give me a call, I would be happy to help you negotiate the best possible deal for you in the Hot Springs area.

Thanks

Ron Rogers
Certified Residential Specialist
Accedited Buyer Representative
Ron@KlamathHome.com
541-891-4875

Get a new lender. In the age of Obama and alternative energy I would find it very hard to believe indeed that this would not be allowed and it is common place in an area like this.

Kim gave some sound advice on here. Give her and her staff a call and find out first hand what is possible.

Regards;

Dirk Knudsen
Re/Max hall of Fame

Hi Karl,
I have not heard of FannieMae guidelines affecting homes with geothermal. I have sold many homes in the Pacific Terrace area and have never had a problem with the purchaser's financing, which is typically backed by Fannie Mae.
I have worked with many reputable local lenders and would be happy to provide their names and phone numbers if you'd like to find one to get pre-qualified, and also to clarify the FNMA issue. You can reach me at KlamathKim@aol.com.
Also, I would be happy to show you homes in the Pacific Terrace/Hot Springs area that might suit your needs.
Take care, and let me know if you have any further questions.