1. Green Mortgages Help Cut Your
Energy Costs

2. Whether you are planning on
purchasing, refinancing or rehabbing a property
to make it more energy efficient, you will
definitely want to look into energy-efficient or
green mortgages, as they are often called.

3. This program applies to the property you call
your primary residence. Generally this means a
single unit, but Freddie Mac offers Energy
Efficient Mortgages (EEMs)
for principal residences
from one to four units.
Second homes are excluded
from EEM programs.

4. How it works

5. With an EEM you are able to finance the cost of
improvements that will make your home more
efficient, and therefore lower your overall
monthly energy expenses. EEMs are available
through a variety of mortgage programs from
Fannie Mae, Freddie Mac, FHA and VA.

6. The cost of the improvements can be rolled into
a new loan, or it can be a stand alone mortgage
separate from your existing one. Buyers can
benefit from EEMs if they are purchasing a new
energy efficient home.

7. To participate in the
program you first must work
with a certified energy
consultant who will
determine your proposed
energy savings by using
what is called a Home Energy Rating System (HERS).
These consultants, or raters, must be certified by
the Residential Energy Services Network (RESNET).
There are fees associated with working
with the consultant,
and they can often be
rolled into the cost of the
loan.

8. Contact your mortgage professional for more
details on this program, which can help you save
money on your energy bills each month.

9. Randy Bett
www.BetterGroupRealEstate.ca