Home > Blogs > Rodney Mason, VP of Mtg Lending > Rodney Mason - Conv, FHA, VA, USDA, Renovation

FHA’s Energy Efficient Mortgage Program

By Rodney Mason, VP of Mtg Lending

Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #151088

March 24, 2012 10:19 AM

FHA’s Energy Efficient Mortgage program can help you save money on utility bills. FHA's EEM program allows you to finance the cost of adding energy efficiency features to new or existing housing. It can be as part of an FHA purchase loan or mortgage refinance.

You can also buy a home that is already energy efficient and qualify for a larger loan based on the life-time savings you would achieve with a more energy efficient home. In order to qualify, the cost of the energy improvements and estimate of the energy savings must be determined by a home energy rating system (HERS) or an energy consultant.

Program details:

	Primary residence of one to four units is eligible for financing.
	A 3.5% down payment is required.
	The cost of an energy inspection report and related fees, including closing costs, may be included in the mortgage.
	Loan limits are based on FHA loan maximums for each county.

Now you can go ahead and buy that older home and bring it up-to-date with money-saving improvements like new windows, solar panels, new appliances or a new washing machine!