Samantha Ross
04-05-2015, 01:57 PM
31650Happy Earth Day!
This April 22nd marks the 45th birthday of the modern environmental movement, when people began to look more seriously at the effect we collectively have on our planet. Although global climate change may seem like a big issue that no individual person can help prevent, this is not the case. Any small steps taken by a household can have positive results, which means having a healthier Earth for years to come. It’s up to each of us to make the commitment to reducing power consumption.
When it comes to the FHA Rehab Loans – GREEN IS IN! In fact there is a special type of loan called an Energy Efficient Mortgage (EEM) that can allow a borrower to add up to 15% of the sale price (or the after repair value of the home) to their mortgage and use these funds to complete energy efficiency improvements- upgrading windows, adding insulation, replacing caulking and doors- even converting to Solar or Geo-Thermal powered HVAC systems.
All these renovations can be done alone or in addition to other repairs completed in a typical 203k mortgage. And one more added bonus--many of these upgrades qualify the home owner for tax rebates and other incentives from utility companies and local governments! A TRUE WIN--WIN
This April 22nd marks the 45th birthday of the modern environmental movement, when people began to look more seriously at the effect we collectively have on our planet. Although global climate change may seem like a big issue that no individual person can help prevent, this is not the case. Any small steps taken by a household can have positive results, which means having a healthier Earth for years to come. It’s up to each of us to make the commitment to reducing power consumption.
When it comes to the FHA Rehab Loans – GREEN IS IN! In fact there is a special type of loan called an Energy Efficient Mortgage (EEM) that can allow a borrower to add up to 15% of the sale price (or the after repair value of the home) to their mortgage and use these funds to complete energy efficiency improvements- upgrading windows, adding insulation, replacing caulking and doors- even converting to Solar or Geo-Thermal powered HVAC systems.
All these renovations can be done alone or in addition to other repairs completed in a typical 203k mortgage. And one more added bonus--many of these upgrades qualify the home owner for tax rebates and other incentives from utility companies and local governments! A TRUE WIN--WIN