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Fannie Mae, Freddie Mac, FHA and VA has adopted special underwriting guidelines to make financing energy efficiency less burdensome.

 

If you are in any of the following businesses the Energy Efficient Mortgage, or EEM, is a powerful tool that can take your business to the next level... and beyond.

  • Home Builder

  • Developer

  • Realtor

  • Remodeler

  • HVAC Contractor

  • Premium Insulation Contractor

  • Window Installer

  • Weatherization Contractor

  • Architect

  • Building Consultant

  • Plumber

  • Electrician

Virtually anyone involved with home construction or improvement can benefit from the power of the EEM. The greater borrowing power brings additional money into the homeowners pocket that can be used to enhance your bottom line while giving the customer unprecedented value.

 

What is an ENERGY EFFICIENT MORTGAGE?

    An energy efficient mortgage (EEM) is a class of financing that allows the homebuyer or homeowner to incorporate the costs to have or obtain a higher level of energy efficiency into the monthly mortgage payment. Realization of these energy efficient improvements will result in lower monthly utility bills, allowing a larger percentage of the homeowner's monthly income to be available to meet the monthly mortgage payment. For that reason, the homeowner can qualify for a larger loan and purchase a larger, more comfortable, more energy efficient home. Also, low utility bills makes a home more attractive and affordable to buyers when it comes time to resell the home, given it more value..

 

    THE ENERGY EFFICIENT MORTGAGE means comfort and savings. When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEM's provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements.

 

      Home owners with lower utility bills have more money in their pocket each month. They can afford to allocate a larger portion of their income to home expenses. If you have more cash, why not buy a better, more comfortable home? There are two options with the Energy Efficient Mortgage.

  1. Finance Energy Improvement.

  • Cost-effective energy-saving measures may be financed as part of the mortgage

  • Make an older, less efficient home more comfortable and affordable

  1. Increase your buying potential

  • Stretch debt-to-income qualifying ratios on loans for energy-efficient homes

  • Qualify for a larger loan amount

  • Buy a better, more energy efficient home

WHICH BUYERS and HOMES ARE ELIGIBLE?

All buyers who qualify for a home loan qualify for the EEM. The EEM is intended to give the buyer additional benefits on top of their usual mortgage deal. The lender will use the energy-efficiency of the house, as determined by a HERS rating, to determine what these benefits will be.

 

Energy Efficient Mortgages can be done on most homes. Availability is not limited by location, home price or utility company. EEMs can be done on government (FHA and VA) conventional, Portfolio and Jumbo Loans. Your lender will help you choose which loan type is best for you.

Get an EEM on:

  • Older homes qualifying for upgrades

  • New or old homes not requiring upgrades

  • New construction

An EEM can only be done if an official home energy rating, or HERS Report, indicates that it will save you money.

 

FOR MORE DETAIL INFORMATION HERE:

 

* The information above was obtained from

http://www.hud.gov/offices/hsg/sfh/eem/eemhog96.cfm

 

 

 

All rights reserved.Copyright © 2006Southwest  Energy Conservation, LLC
Revised: 12/05/08.