Energy Efficient Mortgages

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It's Time to Go Green.

THE ENERGY EFFICIENT MORTGAGE means comfort and savings. When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements.

PrimeLending, A Plains Capital Company based in Dallas, Texas is an ENERGY STAR partner and strives to provide Energy Efficient Mortgages whenever possible. We have lending programs available!! Please contact Senior Loan Officer Sharon McCormick 972.713.3215 for more information.

WHO BENEFITS from the ENERGY EFFICIENT MORTGAGE?

Buyers:

	Qualify for a larger loan on a better home!
	Get a more comfortable home NOW.
	Save money every month from Day One.
	Increase the potential resale value of your home.

Sellers:

Sell your home more quickly.

Make your house affordable to more people.

Attract attention in a competitive market.

Remodelers/Refinancers:

	Get all the EEM benefits without moving.
	Make improvements which will actually save you money.
	Increase the potential resale value of your home.

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 actually save money because your energy bills will be lower!

HERS, or Home Energy Rating Systems

A HERS report is similar to a miles-per-gallon rating on a car. HERS are programs which provide evaluations of an individual home's energy-efficiency. A HERS report is prepared by a trained Energy Rater. Factors such as insulation, appliance efficiencies, window types, local climate, and utility rates are used to rate the home and calculate energy costs.

A HERS Report Includes:

	Overall Rating Score of the house as it is.
	Recommended cost-effective energy upgrades.
	Estimates of the cost, annual savings, and useful life of upgrades.
	Improved Rating Score after the installation of recommended upgrades.
	Estimated annual total energy cost for the existing home before and after upgrades.

ENERGY STAR qualified products and practices help you save money and reduce greenhouse gas emissions by meeting strict energy efficiency guidelines set by the U.S. EPA and U.S. DOE. The ENERGY STAR label also designates superior energy performance in homes and buildings. ENERGY STAR labeled homes typically qualify for an EEM. Find out more about ENERGY STAR at www.energystar.gov.

PrimeLending, A PlainsCapital Company is a proud partner of ENERGY STAR.

Federal Housing Administration (FHA) EEMs

The FHA Energy Efficient Mortgage covers upgrades for new and existing homes and is now available in all 50 states. Key features includes:

	Loan limits may be exceeded
	No re-qualifying
	No additional down payment
	No new appraisal

$4,000 or 5% of the property value (up to $8,000) may be financed EEM's may be combined with 203(k) FHA Home Rehabilitation Loans

The FHA 203(k) program enables a home buyer or investor to obtain a single loan to finance both property acquisition and complete major improvements after the time of loan closing. Can be used in conjunction with the FHA EEM.

Veterans Affairs (VA) EEMs

The VA Energy Efficient Mortgage is available to qualified military personnel, reservists and veterans in all 50 states for energy improvements when purchasing an existing home. Key features include:

	$3,000 of upgrades may be financed based solely on documented costs
	Up to $6,000 may be financed if upgrades are deemed cost effective

Fannie Mae and Freddie Mac EEMs

Fannie Mae secondary market guidelines permit approved lenders to increase ratios two percent on the debt-to-income requirements for Energy Efficient Mortgages. An expanded qualifying ratio helps purchasers who are "maxed-out" on their income ratios. Freddie Mac allows a lender to use the projected utility savings as a "compensating factor."

WHICH HOMES ARE ELIGIBLE?

Energy Efficient Mortgages can be done on most homes. Availability is not limited by location, home price or utility company. EEMs can be done on government (FHA and VA) conventional, Portfolio and Jumbo Loans. Your lender will help you choose which loan type is best for you.

Get an EEM on:

	Older homes qualifying for upgrades
	New or old homes not requiring upgrades
	New construction

SOMETHING to KEEP in MIND

Each house is as unique as its owner. Benefits derived from the EEM will vary from one house to another, and the benefits in the examples in this book may not apply in all cases. Your lender will be your best source of information on your own EEM benefits.