Willy's Whimsical Wednesday Words of Wisdom

THE ENERGY EFFICIENT MORTGAGE means comfort and savings. Whether 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. EEMs 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.

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

Finance Energy-Saving Improvements!

• Cost-effective energy-saving measures may be financed as part of the mortgage!
• Make an older, less efficient home more comfortable and affordable!

WHO BENEFITS from the ENERGY EFFICIENT MORTGAGE?
Buyers:

• Qualify for a larger loan on a better home!
• Get a more comfortable home NOW.
• Save money every month from Day One.
• Increase the potential resale value of your home.

Sellers:

• Sell your home more quickly.
• Make your house affordable to more people.
• Attract attention in a competitive market.

Remodelers/Refinancers:

• Get all the EEM benefits without moving.
• Make improvements which will actually save you money.
• Increase the potential resale value of your home.

Pay for energy improvements easily, through your mortgage. Your lender can increase your loan to cover energy improvement costs. Monthly mortgage payments increase slightly, but you can actually save money because your energy bills will be lower!

Home Energy Assessment

The Borrower will need to obtain a home energy assessment. The energy assessment will provide:

• Recommendations of energy-saving improvements for the Borrower’s consideration,
• Estimate of the money each improvement will save in energy costs, and
• Estimate of the cost to make each improvement.

The Mortgage Lender must use information from the home energy assessment report to determine the amount of money homeowners will save in energy costs with each improvement.   Improvements are “cost-effective” when they save the homeowner as much or more than the cost of improvements

If anyone has used this type of program, I would be grateful for some feedback.

 Have a Willy Great Day!