Energy Efficient Mortgages
The Energy Efficient Mortgage (EEM) is offered by FHA (HUD), VA, Fannie Ma, and several other lenders. The EEM is available to anyone whether a first time home buyers, refinancing, or buying a new or used home. When you decide to go with an EEM rather than a conventional mortgage, you benefit by:
- Qualifying for a higher loan amount because of increased energy efficiency
- No down payment for the home energy efficiency package
- Getting a more comfortable and energy efficient home
When you look at the combination of the monthly mortgage payment and the energy bills, the total is lower with the energy efficient house than with the conventional house. See the example above. This homeowner qualified for $4,816 in energy efficient upgrades, yet still has a lower true monthly cost of home-ownership.
To get an EEM, you have to get a home energy rating done for the home. If you’re buying a new home that’s already energy efficient, it should have already had a rating. If you’re buying or refinancing an existing home, you’ll need to make sure that you find a certified home energy rater, like Transduction Technologies.
If you need help finding a lender who offers EEMs, please feel free to contact Transduction Technologies at (402) 213-3788.
To get an EEM, you have to get a home energy rating done for the home. If you’re buying a new home that’s already energy efficient, it should have already had a rating. If you’re buying or refinancing an existing home, you’ll need to make sure that you find a certified home energy rater, like Transduction Technologies.
If you need help finding a lender who offers EEMs, please feel free to contact Transduction Technologies at (402) 213-3788.