An Energy Efficient Mortgage (EEM) also known as a ?green mortgage? is an FHA or VA loan that allows borrowers to finance 100% of energy efficiency improvements. This is a mortgage that credits a home?s energy efficiency in the mortgage itself. An EEM is available for purchase or refinance of one-to-four unit owner-occupied properties. Energy Efficient improvements may include, windows, doors, insulation, HVAC systems, and Energy Star related appliances.
To get an EEM a borrower typically has to have a home energy rater conduct a home energy rating before financing is approved. This rating verifies for the lender that the home is energy-efficient.
Why have an energy efficient mortgage? The quick answer, you can save money! These types of mortgages are federally recognized whether you?re buying your first home, refinancing or remodeling your existing home. With an EEM, you can borrow extra money to pay for energy efficient upgrades to your current home or a new or old home. The result? An environmentally friendly home that uses fewer resources for heating and cooling and has dramatically lower utility costs.
Why not save money monthly and help the environment at the same time? It?s known that if your home is energy efficient, it remains cooler in the summer months and stays warmer in the winter, saving you money throughout the year in utilities.
Speaking to a mortgage specialist is an ideal way for you as a buyer to get the most current and varied financing options out there. Homestead Funding?s Licensed Loan Originators understand that it?s a huge financial commitment when financing a home ? so they work with you from start to finish. Your local Homestead Funding specialist is there for you, guiding you through the application process to standing beside you at closing.
So don?t hesitate and get more information on how an energy efficient mortgage may work for you, call the mortgage specialists at Homestead Funding. Or you can visit Homestead Funding at www.homesteadfunding.com to find a specialist near you.
Need more information on FHA loans Saratoga? We are multi-state licensed mortgage specialists, our loan originators sit down with first time home buyer clients and go over programs suitable for their needs.
new orleans saints saints willis mcgahee willis mcgahee ship aground off italy nfl playoff schedule 2012 nfl live
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.