Financial

The Energy Efficient Mortgage Means Comfort and Savings
(all information is courtesy of the US Department of Energy)

When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements. 

Homeowners with lower utility bills have more money in their pocket each month. They can afford to allocate a larger portion of their income to housing expenses. If you have more cash, why not buy a better, more comfortable home? There are two options with the Energy Efficient Mortgage.

Finance energy improvements

• Cost-effective energy-saving measures may be financed as part of the mortgage!
  
• Make an older, less efficient home more comfortable and affordable!

Increase your buying power

• Stretch debt-to-income qualifying ratios on loans for energy-efficient homes!
  
• Qualify for a larger loan amount! Buy a better, more energy efficient home!
  

Who Benefits from the Energy Efficient Mortgage?

Buyers:

• Qualify for a larger loan on a better home!
  
• Get a more comfortable home NOW.
  
• Save money every month from Day One.
  
• Increase the potential resale value of your home.
  

Sellers:

• Sell your home more quickly.
  
• Make your house affordable to more people.
  
• Attract attention in a competitive market.
  

Remodelers/Refinancers:

• Get all the EEM benefits without moving.
  
• Make improvements which will actually save you money.
  
• Increase the potential resale value of your home. Pay for energy improvements easily, through your mortgage. Your lender can increase your loan to cover energy improvement costs. Monthly mortgage payments increase slightly, but you actually save money because your energy bills will be lower!
  

Some Things to Keep in Mind 

You may get a larger tax deduction with the EEM because the interest on mortgage payments is tax deductible. This can save you more money than paying for energy upgrades with a credit card, bank loan, or cash, none of which are usually tax deductible.
Each house is as unique as its owner. Benefits derived from the EEM will vary from one house to another, and the benefits in the examples in this book may not apply in all cases. Your lender will be your best source of information on your own EEM benefits.

Valyceum Estates Office: 585-777-4116 | Fax: 585-777-4108
250 Mill Street, Suite 500
Rochester, NY 14614
contact@valyceum.com

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