Sethodine
Elio Addict
I'd rather buy with 100% down than with 0% down.
But that's why I'm looking at building a tiny house instead of a big house
But that's why I'm looking at building a tiny house instead of a big house
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What Is The Status Of The Atvm Loan?
- Thread starter grampi
- Start date
bunchathrees
Elio Addict
I'd rather buy with 100% down than with 0% down.
But that's why I'm looking at building a tiny house instead of a big house
Let us know when they film your episode of Tiny House Hunters.
Frim
Elio Addict
MY 2 cents. I just learned that your credit score can vary by as much as 70 points without any adverse or positive actions on your part. It is a heuristic used by bankers too lazy to actually qualify an applicant. If the bank wants to make the loan, they can do it.
My recent experience with a home loan indicates a much broader qualification requirement than just your credit score based on the new Federal Banking Regulation guidelines established after the housing crash. Have you tried to qualify for a home loan in the past 7-8 years. My Bank's loan officer didn't like the new regulations and the added red tape she said made her job more difficult................I did.
I have a mortgage broker that I use; I tell him how much I want, and he finds the right people to do it.
I don't use banks any longer; all of my banking needs are done through a Credit Union; I'm so much happier with them.
I don't use banks any longer; all of my banking needs are done through a Credit Union; I'm so much happier with them.
Two years in Government Time is FAST unless you are a significant campaign donor and get the wheels greased.
Ty
Elio Addict
Check this out, if you haven't already:
http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf
This one line in the document may explain why Elio is building 100 at Shreveport:
ATVM is a loan program, not a grant program. It provides "expansion capital," not working capital
This could mean that they would expect Elio to be "manufacturing" at their location and require funding in order to "expand" to full-rate production. They'd have to show that they can build the Elios for less than they sell them for as well. Because, this isn't a grant program.
http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf
This one line in the document may explain why Elio is building 100 at Shreveport:
ATVM is a loan program, not a grant program. It provides "expansion capital," not working capital
This could mean that they would expect Elio to be "manufacturing" at their location and require funding in order to "expand" to full-rate production. They'd have to show that they can build the Elios for less than they sell them for as well. Because, this isn't a grant program.
Grumble at EM for not supplying the ATVM loan committee a proof of concept and financial statements showing their ability to repay the loan. We have an example of a government agency actually doing their job no reason to grumble.
Ty's post #109 above validates why the loan application has been sitting on the back burner.