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Energy Efficient Mortgages (again) – Great Way to Finance Improvements; Limit Is Now $17,650

We mentioned Energy Efficient Mortgages (EEMs) a few weeks back. These loans consist of additions to principal that can be tacked on to FHA Loans at the same rate as the base FHA Loan, irrespective of the resulting LTV. EEMs were capped at $8,000, but now a few of our lenders allow as much as $17,650. This money can be used for almost any type of energy saving improvement – new furnace, new air conditioner, better insulation, new windows, etc. If you have a client buying an older home with FHA financing, this is a very inexpensive way to finance improvements. And, it is EASY. The Certified EEM Contractors really know what they are doing, we have discovered in doing these loans.

If you have any questions regarding these loans, please feel to contact us, or if you need to contact an EEM Contractor, please call Lee Caruthers with Federal Energy Services at (916) 409-9926 or by email at lee@eemhelp.com. Do not let the area code dissuade you from contacting Lee; she works the entire Bay Area, and she is very responsive.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167