Whether you are buying, selling, refinancing or remodeling your home, you can increase your comfort and actually save money by using an energy efficient mortgage program to lower your utility bills.
There are 2 types of energy mortgages: An energy efficient mortgage enables homebuyers to include cost-effective energy saving measures as part of their mortgage by purchasing a new home that is already deemed to be energy efficient.
Energy improvement mortgages are designed for home owners making energy related upgrades to their existing homes. The costs for these improvements are accounted for in the mortgage, thus reducing or eliminating large up-front costs.
In either type of mortgage, the borrower typically has to have a home energy rating conducted before financing is approved. This rating verifies that the home is energy-efficient.
Both programs are federally recognized and can be applied to most home mortgages, including FHA, VA and conventional loans.
