The appraiser just informed me that its stalled because according to the bank I have no permanent heat source. I have a brand-new 28K BTU gas insert fireplace. This replaced two 10K BTU wall heaters that were fine during the purchase appraisal. The fireplace wildly outperforms the two old wall heaters which were torn out. Also, this is San Diego, where 28K BTU tends to be just fine. I use it maybe 5x per year.
Why is my insert not a “permanent heat source?” I did some google research, but couldn’t find anything that disqualifies my fireplace. Just an FHA rule that the heating source must be able to keep all habitable rooms or rooms with plumbing heated to 50 degrees, and have a thermostat control. Check.
Well I know that wouldn’t suffice up here in the GWN. I switched to a natural gas furnace and stove to replace my forced air electric furnace and wood stove last year. But I’m sure my BTU rating is a bit higher than yours.
That’s very true. But even with good R insulation in the northern rust belt you still need a decent heat source. I was amazed when I visited California how little R factor their houses have/need. Houses are obviously much less expensive to build there with no R insulation or basements so it further amazes me how expensive they are.
Put 'em back in. Get the refi. Pull 'em out. Enjoy your insert.
I sort of crossed that bridge. The appraiser called me and basically gave me a wink-wink and asked me what she should tell the bank about my “plans for future installation”, but I was pissed, so I just answered honestly.
I just want to know who to be pissed at, e.g. if this is a government regulation, or just a bank policy.
Traditional fireplace is woefully inefficient, and would not be a heat source for multiple rooms (that's why houses had multiple fireplaces!). You've probably got a ventless fireplace, which are very efficient, but it could be the loan process is tied to the old paradigm.?
They are financing in advance of the global warming legislation impact. “Gas” and all other petroleum products will become illegal…you’ll have to take them all out, which makes them temporary at best, potential liability at worst.
Isn’t a gas fireplace the same thing as a gas furnace, except with a log to look at? Bizarre. I’m assuming you have one of the glassed in thingies and not just a gas log sitting in an open grate…
The new ones are truly a heater. We have one in our living room. It will burn us out of there with the fan on high. Warms our living space and the bedrooms stay nice and cold, just how I like them!
