If you or someone you know is thinking about buying an older home make sure your Realtor and Lender are familiar with Energy Efficient Mortgage (EEM). Financing your home purchase with an EEM program doesn’t affect your income qualification, down payment or appraisal. You literally can afford a better and more comfortable home, equipped with energy efficient upgrades that pay for themselves and, often, you can have everything ready and installed by the time you move in.

The Energy Efficient Mortgage is recommended by the U.S. Department of Energy and enables you to finance valuable energy-related home improvements directly with your mortgage in such a manner that the improvement savings is documented by a qualified energy professional. Any increase in your monthly mortgage payments will be more than offset by a corresponding decrease in your utility bills, in some cases as much as 50 percent.

With an Energy Efficient Mortgage loan program, you can now affordably:

• Replace/convert outdated furnace and air conditioning units
  to modern, energy efficient central systems
  
• Install vinyl-frame dual pane windows
  
• Upgrade or install attic and wall insulation
  
• Upgrade your water heater
  
• Weatherize your doors, windows, walls and pipe penetrations
  
• Upgrade to energy efficient appliances
  

Even better, financing your home purchase with an EEM program doesn’t affect your income qualification, down payment or appraisal. You literally can afford a better and more comfortable home, equipped with energy efficient upgrades that pay for themselves.

The Energy Efficient Mortgage program is available through Fannie Mae, Freddie Mac, FHA, VA and ENERGY STAR. The program is limited to home upgrades known to reliably save energy and lower utility costs. If the home you are buying or refinancing was built before 1994 it is almost certain that an energy audit of the property and corresponding improvements will provide sufficient utility savings to more than offset the additional cost added to the mortgage by financing the improvements.

There is no cost to apply for the EEM and it is something everyone who is buying or refinancing a home should consider.

If you are considering buying an older home and would like additional information about an Energy Efficient Mortgage please contact me, Julie Jalone, by email at juliej@jalone.com or call me at (916) 290-9339.