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Homeowner
Are you trying to obtain an energy efficient home mortage or an energy efficiency improvement loan?
More Info
- An Energy Efficient Mortgage (EEM) is, generally, a specialized mortgage where the homeowner is allowed to borrow more money than might normally be allowed, due to the lower operating costs of owning an energy efficient home. In other words, the mortgage company allows the homeowner to count the money that normally would have gone for utilities towards your mortgage payment instead. Because the homeowner can put that larger amount toward the mortgage payment, the homeowner can qualify for a larger loan.
- Similarly, a Energy Improvement Mortgage (EIM) allows a homeowner to finance the energy upgrades of an existing home in the loan using monthly energy savings.
- More information about EEMs and EIMs can be found at RESNET.
- A home energy Assessment tests the safety, durability, comfort and energy efficiency of existing homes (new or used), and provides guidance on how the home's safety, durability, comfort and energy efficiency can be improved. Interestingly, comfort and energy efficiency usually go hand-in-hand. Improve one and you'll improve the other. (The Home Performance with ENERGY STAR program is an assessment program.)
