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This page is meant to provide some basic information on the FHA Energy Efficient Mortgage program. The information is NOT all-inclusive and should be used for guidance only. If you need further information, you should contact a lender like myself who is familiar with the guidelines before submitting a purchase offer on a home.

General Overview

FHA’s Energy Efficient Mortgage program (EEM) helps homebuyers or homeowners save money on utility bills by enabling them to finance the cost of adding energy efficiency features to new or existing housing as part of their FHA insured home purchase or refinancing mortgage.    

EEM is one of many FHA programs that insure mortgage loans–and thus encourage lenders to make mortgage credit available to borrowers who would not otherwise qualify for conventional loans on affordable terms (such as first time homebuyers) and to residents of disadvantaged neighborhoods (where mortgages may be hard to get). Borrowers who obtain FHA’s popular Section 203(b) Mortgage Insurance (the “standard” FHA-backed loan) for one to four family homes are eligible for approximately 96.5 percent financing, and are able to fold closing costs and the upfront mortgage insurance premium into the mortgage. The borrower must also pay an annual premium.

EEM can also be used with the FHA Section 203(k) rehabilitation program and generally follows that program’s financing guidelines.

Eligible Customers

All persons who meet the income requirements for a standard FHA-backed loan and can make the monthly mortgage payments are eligible to apply. 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. The cost of an energy inspection report and related fees may be included in the mortgage. Cooperative units are not eligible.

Eligibility Requirements

The energy efficient improvements must be cost effective, meaning that the total cost of the improvements is less than the total present value of the energy saved over the useful life of the energy improvement.

The cost of the energy improvements and estimate of the energy savings must be determined by a home energy rating report that is prepared by an ebergy consultant using a Home Energy Rating System (HERS). The cost of the energy rating report and inspections may be financed as part of the cost effective energy price.

The energy improvements are installed after the loan closes. The lender will place the money in an escrow account. The money will be released to the borrower after an inspection verifies that the improvements are installed and the energy savings will be achieved.

How to get an Energy Efficient Mortgage

If you need more information, please contact us at 219-695-0369. If you are ready for an energy efficient mortgage, you may apply here.

source: Department of Housing and Urban Development

Thank you for requesting a copy of our informational report on how to Stop Paying Rent Forever.

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Thank you for requesting a copy of our book titled “Real Estate 101″. If you would like further information about how to purchase, finance, or refinance a home, please feel free to contact me at 219-695-0369 or email scott@nwiloanguy.com.

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There has never been a better time than now to buy a home. The prices are lower than ever and the Federal Reserve continues to keep the interest rates low in an effort to stimulate the economy. Yet few people are buying because they are either afraid or intimidated by the aspect of “losing money.”

Everyone has heard that the residential real estate market has crashed and burned. It might even get worse before it gets better, although it is pretty much lower than it has been for decades. This is a bad time for anyone selling real estate, but not for buying. If you have been pondering whether or not to buy but are either afraid of the market, fear no more. This book is going to tell you everything you need to know about buying a house in this economy or any other market.

WARNING: DO NOT START LOOKING AT HOMES UNTIL YOU HAVE READ THIS BOOK!

Table  of  Contents

Chapter 1 – Buying Your First Home Now!

Chapter 2 – Buyer’s And Seller’s Markets

Chapter 3 – Getting An Agent

Chapter 4 – Finding A Mortgage Lender

Chapter 5 – Where To Look For A Home

Chapter 6 – Things To Look For In A Home

Chapter 7 – Things To Stay Away From When Buying A Home

Chapter 8 – Making An Offer

Chapter 9 – The Real Estate Contract

Chapter 10 –Getting Your Financing Set

Chapter 11 – Title Insurance

Chapter 12 – The Survey

Chapter 13 – The HUD-1

Chapter 14 – The Closing

For a limited time, we are giving away copies of this book, a $17 value (that can save you literally thousands of dollars). Just let us know where to send it, and you can be reading it within minutes.

Thank you for requesting a copy of our informational report.

Click here to get your report

If you have any problems with the download or questions about the report, please contact scott@nwiloanguy.com.

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Thank you for requesting a copy of our informational report.

Click here to get your report

If you have any problems with the download or questions about the report, please contact scott@nwiloanguy.com.

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Thank you for requesting a copy of our informational report on the questions you MUST ask your lender.

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If you have any problems with the download or questions about the report, please contact scott@nwiloanguy.com.

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You will soon be receiving an email asking you to confirm your email address. Just click on the confirmation link and your report will go directly to the email address you signed-up with.

If your product does not arrive within just a few short minutes, please check your spam folder for an email from scott@nwiloanguy.com.

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When you are applying for a mortgage loan, it is important to follow your lender’s instructions and make sure you get them any additional information or documentation they need immediately.

Just as important, there are several things that you SHOULD NOT DO when applying for the mortgage.

Here are seven of them.

Click here to receive 7 Things You Should Not Do When Applying For A Loan

If you are currently renting, you are probably throwing money away and lining the pockets of your landlord.

This article will help you stop paying rent and purchase a home.

Click here to get a copy of Stop Paying Rent Forever.