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Info for Realtors and LOs

Order a HERS-certified Energy Rating today!

A HERS rating on your client's home can provide you with a number of valuable benefits. First, a home_energy audit with a HERS rating can help your clients qualify for an Energy Efficient Mortgage.

How they can help buyers:

  • Qualify them for a larger loan on a better home!
  • They can move into a more comfortable home tomorrow.
  • Show them how to save money every month from Day 1.
  • Increase the resale value of an audited home with cost-effective improvements.

How can they help sellers?

  • Sell your client's home quicker.
  • Make your house affordable to more people.
  • Attract attention in a competitive market.

Pay for energy improvements easily, through your mortgage. Your lender can increase your loan to cover energy improvement costs. Monthly mortgage payments increase slightly, but you can save money due to lower energy bills.

 

Add Distinction to Your listings!

In today's tough market, any home which has had an energy audit and performed some basic energy upgrades has a leg up on the competition. An Energy Audit or Energy Rating can be easily folded into the home-buying routine, and is often simpler than ordering an appraisal!

Help your clients finance energy improvements:

  • Cost-effective energy-saving measures may be financed as part of a buyer's mortgage!
  • Make an older, less efficient home more comfortable and affordable!
  • Increase your borrower's buying power!
  • Stretch debt-to-income (DTI) qualifying ratios on loans for energy-efficient homes!
  • Help borrowers qualify for larger loan amounts!
  • Sell a better, more energy efficient home!

Types of Energy Efficient Mortgages (EEMs):

Conventional and Jumbo loans - Energy Efficient Mortgages
Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower’s income by a dollar amount equal to the estimated energy savings. Alternatively, some lenders will expand their underwriting guidelines and allow a 2% increase in qualifying DTI ratios. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures.

FHA Loans - Energy Efficient Mortgages
FHA EEMs allow lenders to add 100% of cost-effective energy improvements to an already approved mortgage loan. These costa are capped ad should not exceed $4000 or 5% of the home's value, up to a maximum of $8000. No additional down payment is required, and FHA will it's loan limit guildelines to be stretched to accomodate energy improvement expenses.

VA Loans - Energy Efficient Mortgages
The Veteran’s Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing home. The VA EEM caps energy improvements at $3,000–$6,000.

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