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What is an Energy Efficiency Mortgage?

April 26, 2017Energy efficiency Home mortgage mortgages

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What is an Energy Efficiency Mortgage?

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If you are in the market for a new home, you may want to look into the energy efficiency mortgage program, also known as EEM. This type of home loan program helps borrowers qualify for loans to purchase homes with specific energy-efficiency improvements. A lender can offer conventional, FHA or VA energy efficiency mortgages. Any buyer that qualifies for a mortgage can also qualify for the EEM. The Home Energy Rating System, commonly referred to as HERS is used to determine what benefits the homeowner will receive. The purpose of EEM is to give borrowers additional benefits on top of their usual mortgage deal. EEMs can be done on most homes with conventional (Fannie Mae or Freddie Mac), portfolio or jumbo loans (availability not limited to location or price of the home).