Energy Efficient Mortgages
By Chris Bellanca
(Subdivisions Real Estate/The Avenue Builders/Energy Auditors)
Energy Efficient Mortgages (EEM) are a 15 year old FHA product available to your clients. It seems they aren't used often out of lack of understanding and are really not much more difficult than a standard FHA loan. Today's market conditions mean home buyers are increasingly using FHA financing. If you have a client that is looking at an FHA product, or you work with FHA products regularly, have you considered offering an EEM to your client? An EEM can be used on either a home purchase or a refinance. Energy Efficient Mortgages consist of testing a home to determine which energy improvements make economic sense if rolled into the financing of the home. These improvements can be windows, doors, HVAC, insulation, appliances, etc. that will result in a DECREASED monthly payment when i...
Comments
2