Home owners 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. There are two options with the Energy Efficient Mortgage.
Financing energy improvements through an EEM provides the following benefits:
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.
Other Financing Possibilities
Check with utilities or energy-related businesses in your area to see if they offer loans or incentives for installing energy-efficient heating and air conditioning systems, windows, insulation, or other energy efficiency improvements.
Many utilities in the United States offer a range of improvements in the energy efficiency of their customers. The Edison Electric Institute (EEI), offers a list of member company programs that offer efficiency services to homeowners, companies, and industrial plants.
Homeowners will find more energy efficiency services from utilities on the National Energy Affordability and Accessibility Project (NEAPP) website.