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Energy Efficient Mortgages - How to save money monthly - Part 1 - FHA Loans going 'Green'
 

Energy Efficient Mortgages aren't talked about much, which some might think they aren’t as good as a regular FHA loan. In my opinion, it’s because many loan officers and or lenders don’t know much about them. Yet there is no huge difference between the two. And one could easily associate an energy efficient mortgage with a FHA 203-k loan. But that would be a very bad assumption, because there isn’t much more to an energy efficient mortgage, known as an EEM loan, as opposed to the paperwork and understanding that goes into a 203-k loan.
Do you have high energy bills? Unless you are having a new home built that could be an energy efficient home, in many cases, the older home probably won’t be up to the current standards, which could cost you hundreds of dollars monthly. So how can you over come this problem? Very easily with an EEM loan.
Quick history about EEM’s -  Congress started a pilot program in 1992 demonstrating the use of energy efficient mortgages, known as EEM’s. (Energy Efficient Mortgages) EEM’s recognize that reducing utility expenses will allow a homeowner to pay a higher mortgage payment to cover the cost of the energy improvements that were financed ... more

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