For Lenders and Mortgage BrokersThe homebuying and building industry is not at the top of its game right now, but there are products already in the marketplace and in development that can help you differentiate your business, and make better loans to more invested, lifelong clients. Most Energy Mortgages are in the secondary market, through FHA, FNMA, and the VA, and those are currently being refined while primary market products are being experimented with. There is little doubt that these types of loans will become more popular (and easier to process) in the next few years. What is an Energy Efficient Mortgage?An Energy Efficient Mortgage (EEM) is a mortgage that credits a home’s energy efficiency in the mortgage itself. EEMs give borrowers the opportunity to finance cost-effective, energy-saving measures as part of a single mortgage and stretch debt-to-income qualifying ratios on loans thereby allowing borrowers to qualify for a larger loan amount and a better, more energy-efficient home. Read more at the HUD website... Visit the RESNET website for answers to Frequently Asked Questions about EEMs. Become an EEM Broker or LenderJoin the growing group of brokers and lenders who can provide financing for energy efficient homes and home improvement at ENERGY STAR. Examples of Primary Market ProductsClick here to read about the green building lending strategy of Shore Bank in Chicago.
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