With an Energy Efficient Mortgage, you can buy more home rather than more energy. After Years of Saving Money for a Home, Why Not Let Your Home Save Money for You!

 

Energy Efficient Mortgages (EEM)

 

An Energy Efficient Mortgage lender will give credit for a home's energy efficient features.  This projected value is factored into the buyer's purchasing income.  A home is considered to be energy efficient when rated at HERS Index of 85 or lower.  With an energy rating you can take advantage of an Energy Efficient Mortgage by:

  • Qualifying easier when buying an energy efficient home

  • Purchasing a larger home

  • Adding more or higher quality features

  • Receiving additional benefits and options provided by lenders

Energy Improvement Mortgages (EIM)

 

An Energy Improvement Mortgage lender finances cost-effective improvements that are recommended in an energy rating.  The cost of improvements can be included in the amount financed at the time of sale or refinancing.  The rating provides information on the relative economic return of the improvements.  It also helps the lenders to verify the energy improvements being considered.

 

Potential energy improvements include items such as:

  • Replacing water heaters

  • Pipe insulation

  • Replacing heating and/or cooling systems

  • Installing setback thermostats

  • Replacing exterior doors

  • Adding insulation (walls, floors, ceilings)

  • Adding storm or insulated doors

  • Replacing windows (adding dual-pane)

 

**  The ability to finance these, and other improvements, depends on the cost-effectiveness of the improvements, on the overall energy report, and the loan program being used.  For complete details, please consult with the mortgage facilitator or lender's representative.

 
 
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