What is an EEM?

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Next to a mortgage payment, the single largest expense of home ownership is utility costs. The Energy Efficient Mortgage program recognizes that if energy efficiency improvements are made at the time of purchase, utility bills will go down, and the overall monthly costs of ownership will be less. Because of this, EEMs allow borrowers to finance the cost of these improvements into a single mortgage.

With record low mortgage rates and swiftly rising utility costs, now is the time to act. If your real estate agent and lender have not presented you with an EEM as a financing option, they are doing you a huge disservice. If the home that you are purchasing or refinancing is more than 10 years old, an EEM offers the chance to make your home more comfortable, more valuable, and improve the air quality, all while saving money every month!

EEMs can also be used by Builders to offset low appraisals that don’t give full value to energy efficient upgrades.