How To Obtain an Energy Efficient Mortgage

Posted by Admirals Cove Homes on Jul 25, 2013 in Home | 0 comments

Going green has become an integral part of many potential homeowners’ searches. With high efficiency appliances at the top of many buyers’ lists, more and more people are willing to spend the extra money to go green in order to save money on their utility bills. Going green can have an effect on more than just your utility bill, it can have an effect on your wallet as well.

Special mortgages exist for people who are looking at turning their house green. Energy Efficient Mortgages (EEMs) were created specifically to finance homes with extra money to either add energy efficient upgrades to a new home or make upgrades to your current one. EEMs were designed so that you don’t have to take out multiple loans if you want to make energy efficient upgrades.

Energy Efficient Mortgages cover everything from installing solar panels, to upgrading windows, and getting new appliances. There are some drawbacks and requirements involved though. In order to be approved, you have to have an energy audit completed on the home. In addition, the upfront costs are usually higher than that of a traditional loan.

For more information on home listings in Admirals Cove, contact Rob Thomson and the rest of the Admirals Cove team at (561) 743-0344 or acteam@wfpcc.com.