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  1. #1
    jre
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    Question Do I need a building permit for partition walls?

    I'm renovating my home with a PHILLOAN so I need to get all necessary permits. I know I need electric and plumbing permits but does anyone know if I need a building permit to put up 67 feet worth of non load bearing partition walls?

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    Partition wall, inside/outside?
    Chris
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  3. #3
    jre
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    Inside, 2x4 framing and drywall, 9 feet high, 67 feet of total length.

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    If your hanging drywall you need a building permit.

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    Quote Originally Posted by StrangeTanks View Post
    If your hanging drywall you need a building permit.
    Seriously? If it's not to partition a house into multi-family? Like... I want to knock out my closet and make it bigger, so I'll need to move the framing an extra 2 feet and put up new sheetrock... so I need permits for that? How screwy.

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    Quote Originally Posted by jre View Post
    I'm renovating my home with a PHILLOAN so I need to get all necessary permits. I know I need electric and plumbing permits but does anyone know if I need a building permit to put up 67 feet worth of non load bearing partition walls?

    BTW, did you buy your property on FHA?

    Is this the HIL you're talking about? index

    If so, did you secure a second lender right after you purchased the property? How'd the underwriting for it go? I'm considering doing the same thing post-home purchase (probably to turn a 3/1 house into a nicer 2/2).


    This is what I saw on the program:

    Available only through participating lenders:
    PNC Bank, Citizens Bank and TD Bank
    HIGHLIGHTS
    Is your Philadelphia home in need of
    some repair or improvement?
    If you own and occupy your home in the City of Philadelphia, a Philadelphia Home Improvement Loan (PHIL) is a great opportunity to make those needed repairs and improvements! What’s more, with no equity or home-appraisal requirements, you can apply even if you just bought your home.

    With great low rates and expanded income guidelines, now is the perfect time to take advantage of this offer made available to Philadelphia homeowners.

    What are the features of a PHIL loan?
    Features include:

    Low fixed rates, 3% APR and 5% APR*
    Interest is usually tax-deductible**
    Borrow up to $25,000
    No application fees
    No recording fees
    No points
    Terms up to 20 years

    What type of property is eligible for a PHIL loan?
    To be eligible for this great offer, your property must be an owner-occupied residence, located within the City of Philadelphia. Single-family residences may contain between one and four residential units (duplex, triplex, quadraplex).

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    If TD is still writing these PHILLOANs and I can get the 3% rate--I'd totally do it right after I get the keys to a house, should I decide to alter it.


    I wonder if I can use this to put up solar panels on the roof.

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    NE19149 is offline (^!^)
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    [QUOTE=MayfairMeat;279764]If TD is still writing these PHILLOANs and I can get the 3% rate--I'd totally do it right after I get the keys to a house, should I decide to alter it.


    I wonder if I can use this to put up solar panels on the roof.[/QUOTE]

    Normal people buy "D" batteries for their toys.

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    [QUOTE=NE19149;279777]
    Quote Originally Posted by MayfairMeat View Post
    If TD is still writing these PHILLOANs and I can get the 3% rate--I'd totally do it right after I get the keys to a house, should I decide to alter it.


    I wonder if I can use this to put up solar panels on the roof.[/QUOTE]

    Normal people buy "D" batteries for their toys.

    Bitch.


    And I justed looked at the rates... I blow WAY past the income levels to get the cheaper 3% loan, so I would get the 5% loan. I think in order for these banks to offer this deal, they must have agreed to it in exchange to receive City business.

    elegible


    It looks like all you need is income, proof you have a house here and you live in it, and the loan is going towards improving the house.

    I'm not seeing anything on what I can/can't spend it on---so I'm guessing solar panels are "in". ETA: Ahh just found the list of approved improvements. The basic rule is if it boosts the property value, and it's permanently affixed to the house in some way, and it's not an obvious frill (like a hot tub or a pool), it's in.
    Last edited by ArcticSplash; 10-10-2010 at 12:40 AM.

  10. #10
    jre
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    Quote Originally Posted by MayfairMeat View Post
    BTW, did you buy your property on FHA?
    I bought my house 3 years ago with a loan backed by PHFA. I suppose it's PA's version of FHA. I had to put 5% down.

    Quote Originally Posted by MayfairMeat View Post
    Is this the HIL you're talking about? index
    Yup, this is the program I'm using. I'm going through Citizen's Bank at 7th and Market. My rate is 5%. I think you have to be really poor to hit that 3%. It's easy to get approved for the financing, I'm finding the permit everything to be minorly annoying though.

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    jre
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    Quote Originally Posted by StrangeTanks View Post
    If your hanging drywall you need a building permit.
    How about replacement windows?

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    Quote Originally Posted by jre View Post
    How about replacement windows?
    Windows/Door Permits

    A window/door permit can be applied for on-line through our fast form permit application process or by applying in person at one of our L&I District Offices.

    This permit is not required for replacement of windows/doors in a one- or two-family dwelling, provided the opening is not increased or decreased.

    1. The work is limited to exterior doors only.
    2. Replacement must be same size and location as the original opening.
    3. Replacement must be 30 feet from any interior lot line or other building on the same site.

    Increasing or decreasing the size of the window/door requires that you obtain a building permit through our Permit Services Unit in the Concourse of the Municipal Services Building, 1401 JFK Blvd.

    You must notify a Building Inspector 48 hours prior to the start of work and the permit must be posted. Failure to comply will result in the issuance of a $75 ticket for each offense.
    Last edited by stock; 10-10-2010 at 09:40 AM.
    Chris
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    Quote Originally Posted by jre View Post
    I bought my house 3 years ago with a loan backed by PHFA. I suppose it's PA's version of FHA. I had to put 5% down.



    Yup, this is the program I'm using. I'm going through Citizen's Bank at 7th and Market. My rate is 5%. I think you have to be really poor to hit that 3%. It's easy to get approved for the financing, I'm finding the permit everything to be minorly annoying though.

    Sweet deal. 5% is still lower than the installment loan offers I'm seeing... at a 750 FICO score and up the lowest I've found was a 7.1% APR from a CU.

    I can borrow $25,000 up to 1-20 years plus the interest can be written off---that is a very friggin sweet deal. I'd have to check the loan language, but the website says it's a credit-based loan not an equity-based loan... but I suspect the bank would still want to agree to make the bank a junior lien-holder on the property.

    Either way, the money can only be used to pump up the value of the property, and not for obvious luxuries (pool/hot tub are out) and not for anything that can be quickly detached and taken with you if you move out (like window units).


    But it says decking is in---so I guess that also means roof decks. And solar panels would count as fixtures. Sidewalks, landscaping and any kind of heating system also counts---so subfloor heating is in. That's a very nice deal I must say.

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    jre: btw TY for mentioning that loan program. I'm making that a sticky in this thread. More people should know about this.

  16. #16
    jre
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    Quote Originally Posted by MayfairMeat View Post
    I can borrow $25,000 up to 1-20 years plus the interest can be written off---that is a very friggin sweet deal. I'd have to check the loan language, but the website says it's a credit-based loan not an equity-based loan... but I suspect the bank would still want to agree to make the bank a junior lien-holder on the property.
    The loan isn't secured by the property. There is no lien. It's like going in and doing a signature loan. The city guarantees it, that's why it's rate is low.

    And double check me on this, but the interest isn't tax deductible. I actually discussed this with the loan officer.
    Last edited by jre; 10-10-2010 at 11:27 AM.

  17. #17
    jre
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    Quote Originally Posted by MayfairMeat View Post
    jre: btw TY for mentioning that loan program. I'm making that a sticky in this thread. More people should know about this.
    The funny thing is, I went to Philadelphia Federal Credit Union and talked to them about improvement loan options and they weren't doing anything unless you had 80% loan to value, which I don't. The best they could do was a 15k signiture loan at 12%. And since they weren't a part of the program, of course they didn't tell me about the PhilaLoan program. It was my accountant who mentioned it in passing.

    And when I went to the Citizen's Bank at 7th and Market, the loan guy there said that not all the Citizen's Banks in the area were able to do the loan. It's like a shot in the dark finding out about it.

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    Quote Originally Posted by jre View Post
    The loan isn't secured by the property. There is no lien. It's like going in and doing a signature loan. The city guarantees it, that's why it's rate is low. And double check me on this, but the interest isn't tax deductible.
    Yeah it's a straight bank signature loan---with an awesome rate. It beats using a credit card hands-down.


    I think if it's for HI, it is--but only if the HI loan is secured by the house. But this is totally up to you and your CPA to hash out. IRS Publication 936 is where these answers are.
    http://www.irs.gov/pub/irs-pdf/p936.pdf

    So yes, interest on PHILALOANs cannot be written off.

    Page 5 says you cannot deduct points/pre-paid interest on a HI loan if the house is not collateral on the loan.

    Further, if your house is mixed-use, as in you are reserving part of it for a home-office, you have to divide your deduction for mortgage interest between what you're deducting for home-office use of your home, and the residential portion of your home.

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    Quote Originally Posted by jre View Post
    The funny thing is, I went to Philadelphia Federal Credit Union and talked to them about improvement loan options and they weren't doing anything unless you had 80% loan to value, which I don't. The best they could do was a 15k signiture loan at 12%. And since they weren't a part of the program, of course they didn't tell me about the PhilaLoan program. It was my accountant who mentioned it in passing.

    And when I went to the Citizen's Bank at 7th and Market, the loan guy there said that not all the Citizen's Banks in the area were able to do the loan. It's like a shot in the dark finding out about it.

    Yeah it says that on the website. That's probably true for all 3 banks--I'm sure not that many bank employees are trained on this loan program. You have to call the specific phone numbers mentioned on the website and pre-arrange to meet with the bank so you get a knowledgeable person who can set it up.

    Good to know. I'll add that to the sticky thread.


    BTW those terms PFCU gave you were horrible. I've got a $25K credit card with an 11% interest rate from the credit union I am with... so revolving it on plastic is cheaper than what they quoted you. Their signature loans run between 8%-15% depending on the loan term (longer term, higher APR)... but it's nowhere near as competitive as this loan is.

    Plus inflation will hit us someday---so this loan will become super cheap over time.

  20. #20
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    A note of warning about the PHIL loan: don't expect to get the money in a short time period. It is a sloooooooowwwwww process. They make you jump through a million hoops and require every permit/approval under the sun. After 9 months of feet dragging by the various city entities involved I couldn't wait any longer and just paid for my remodeling in cash.

 

 

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