I wanted to share this great new concept some lenders are providing as a nice way to roll some of the more expensive yet cost-saving building systems into a new mortgage or refinance of an existing home. I am going to explore and will report if I have success or issues that come up! Happy Thanksgiving everyone.
All About Energy Efficient Mortgages
When you buy a new home or refinance your present home, you can pay for energy upgrades with an EEM
If you can improve your house in a way that lowers your utility bills, a bank will lend you more money. Why? Because if you have lower utility bills, you’ll have more money in your pocket each month to pay back the bank.
A relatively new home financing option — the energy efficient mortgage — can let home buyers qualify for larger loans than they might otherwise, while improving their homes with environmentally friendly, cost-cutting upgrades that can reduce energy bills.
An energy efficient mortgage (EEM) is a great way to help a family improve their home and save money while doing good for the environment, and securing one is a lot simpler than you might think.