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The Energy Efficient Mortgage (EEM) or green home loan, is an emerging option for the environmentally friendly and energy-conscious borrower. Beyond reducing your home’s carbon footprint, these federally recognized mortgages help homeowners save money on utility bills, and add to the resale value and general comfort of the home.

EEMs, which can be applied to most mortgages, allow home buyers to borrow extra money to help pay for energy efficient upgrades. Any home buyer who qualifies for a mortgage can qualify for an EEM. While separate from your primary mortgage, the EEM is rolled into your mortgage, so that you only have to make one payment per month. These mortgages can apply to your current home or a home that you plan to buy.

These types of mortgages are offered under a variety of lending programs, including FHA, VA, and conventional home loans. Each are used for similar purposes but have variations in their guidelines and qualifications.


The first step in obtaining an EEM is to have a home energy assessment or audit completed by a qualified energy assessor. We review their report and work with you to determine the loan amount for cost-effective energy upgrades.

 Home energy assessments provide us with information on what energy-saving improvements will need to happen in order for you to save money and help us estimate the costs of improvements to lend the correct amount.

The EnergySpark Home Loan Program is a type of EEM offered by the state of Washington. This great program helps reduce interest rates for eligible home buyers. Learn more and find out if you’re eligible for this loan program in Vancouver and Spokane.

 

Benefits of Energy Efficient Mortgages

  • Whether your home is old or new, energy efficient upgrades can make it more comfortable and affordable.
  • Energy efficient upgrades are financed as part of a single mortgage – you’ll only have one monthly payment

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  • Potentially stretch your debt-to-income ratios, therefore allowing you to possibly qualify for a larger loan amount

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  • Energy efficient upgrades can increase the potential resale value of your home

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  • Your monthly mortgage payment may be slightly higher, but you’ll be saving money on your energy bills.
  • Go green and reduce your home’s carbon footprint.

 
Additional Resources

HUD.gov Energy Efficient Mortgage Homeowner Guide
ENERGY STAR: Energy Efficient Mortgages
 

Ready to learn how to qualify for an Energy Efficient Mortgage? Contact one of our experienced mortgage bankers today to learn more and find out if you may be eligible for an Energy Efficient Mortgage in Portland, Vancouver, or Spokane.
 

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