How Much Can You Increase My Loan Amount to include and EEM Add on

1. Why Add On An Energy Efficient Mortgage? Energy Efficient Mortgage Add On with an FHA 203K and 203B Home Loan John McKibbon, FHA 203K Guru Broker’s Best canturning your hard to sale bank owned properties into a closed escrow in 60 days or less(225)-612-0019 Toll Free john@bbclpctr.com www.bbclpctr.com FHA's Energy Efficient Mortgage Add On (EEM) helps homebuyers save money on utility bills by enabling them to finance the cost of adding energy efficiency features to their FHA 203K or 203B loan. At a minimum your clients will be required to apply the EEM funds to address: the local recommended R value (insulation rating factor) in ceilings, walls and floors; infiltration levels and barriers (caulking, weather stripping and sealing); adding storm windows and doors; the heating (including water heating) and cooling systems.  Once the above items are addressed your clients can use any additional funds to purchase other energy efficient appliances or equipment such as active or passive solar technologies. Your client does not have to qualify for the additional money, nor do they have to make and additional down payment on these improvements since FHA wants to help everyone to Go Green! If you are showing an older home that does not appear to be well weatherized, let your clients know they can include many energy efficient improvements in their FHA 203K or 203B Home Loan and all at the same interest rate. Not only can this save them thousands of dollars utility cost, but you clients don’t have to made a cash purchase or finance the cost at much higher rates while focusing on buying the extras that make a newly purchased house a home. The cost of the energy improvements and estimate of the energy savings must be determined by a home energy rating system (HERS) or an Energy Consultant. The fees and inspection report are included in the mortgage just like the cost when using an FHA Consultant. That’s right, the cost to weatherize their home has NO OUT OF ADDITIONAL DOWN PAYMENT REQUIREMENTS. If your client has an interest to include this Add On Have them call me immediately and I’ll send them more information about the EEM Add On Program and explain some easy steps to explore the benefits while waiting for your offer to be approved. And remember this program is available on all FHA programs, so if your client doesn’t follow through of the purchase of the home they are looking at today we can easily apply the necessary improvements to any other home they decide to purchase and in need of weatherization. To find out how much your client can increase their mortgage to benefit from the EEM Add On Program simply locate the Parish the property is located in and determine the greater value of what is in Columns E or G on the chart link below. LEARN ABOUT ALL THE TAX CREDITS YOUr Clients MIGHT QUALIFY FOR when Using the EEM Add On$500 LOUISIANA APPLIANCE REBATE PROGRAM$12500 LOUISIANA TAX CREDIT FOR SOLAR AND WIND ENERGY SYSTEMS$3000  LOUISIANA HOME ENERGY REBATE OPTION (HERO)$500 FED TAX CREDITS FOR E E WINDOWS, DOORS AND SKYLIGHTS$500 FED TAX CREDITS FOR E E BIOMASS STOVES, HVAC, INSULATION, ROOFING AND WATER HEATERS$2000 FED TAX CREDITS FOR GOING GREEN WITH SOLAR WATER HEATING EQUIPMENT OR SOLAR PANELS10% UTILITY PROVIDER DISCOUNTENTERGY – NEW ORLEANS RESIDENTIAL ENERGY EFFICIENCY PROGRAM How Much Can You Increase My Loan Amount to include and EEM Add on