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The demand for Energy Efficient & green homes is growing every year. The energy efficient mortgage is a lending product that can slash utility bills, make a house more comfortable, increase indoor air quality, and increase the value of a house.
Energy efficient improvements can reduce energy costs significantly.
An Energy Efficient Mortgage calculates the benefits of this increase in cash flow ahead of time and allows the client to qualify for a larger mortgage that covers both the property and the cost of the energy efficient upgrades. An Energy Efficient Mortgage enables the homeowner to qualify for a larger loan.
Modern Earth makes getting an Energy Efficient Mortgage easier. We arrange for the HERS AUDIT that provides an energy profile of the home and suggests energy upgrades that would be ‘cost effective’ (meaning they cost less than the energy they will save).
TYPICAL EEM
FHA Energy Efficient Mortgages allow the homeowner to borrow up to 5% of the loan amount or $8000, whichever is lower, above the purchase price for qualified improvements. ‘Weatherization’ improvements can increase this extra amount further, though under different guidelines. Contact us for more information.
We supervise the EEM portion of the loan process from documentation through implementation of the energy efficient improvements.
Some of the improvements that qualify for the energy efficient mortgage are:
Insulation – Attic, Wall, Floor
Infiltration – Testing for and Sealing air leaks in exterior walls, floors, ceilings, and windows
Duct Improvements – Testing, and sealing, insulating. The average home in California Leaks 30%
Window Replacements
Water Heater – Replace with high efficient, or on demand unit
Solar Water heating
Heating/Cooling HVAC unit
Lighting Conversions – Converting to CFLs and/or high efficiency lighting units
Call for information about processing for other loan programs including Weatherization, FHA 203 (K) Streamline, VA EEMs, the Green Progress Loan, and other Green/Energy Efficient Loans.
15821 Ventura Blvd. Suite #565, Encino, CA 91436
Phone: Toll Free 866.636-2591 or 818.933.2913 | Fax: 818.325.8883
Home | Energy Efficient Mortgage Programs | Processing / Project Management | About Us / Contact Us
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