eBook VA Energy Efficient Mortgage

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What is an Energy Efficient Mortgage?

An Energy Efficient Mortgage (EEM) is a loan that covers the cost of making energy efficiency improvements to a dwelling. An EEM is not a stand-alone loan; rather, it is made as an add-on to a VA loan for a new purchase or a VA refinance. The amount borrowed for the EEM is considered part of the purchase or refinance and is allowed on all types of VA loans. EEMs can only be used for the very-specific purpose of reducing the veteran borrower’s utility bills by making the home more energy efficient.

We will discuss in our Energy Efficient Mortgage eBook about the VA Lender’s Handbook and what it offers to help guide us through a list of things that can always be approved for an EEM (as long as the borrower is qualified for the increased loan amount). Acceptable uses are not limited by the things on this list; if you have an improvement to your home that you’d like to do but it does not appear on this list, consult with us here at Low VA Rates and as a VA-approved lender we can go over the details for your family and your situation.

We should all be aware of what we can do with Energy Efficiency. Click here to learn, or download, how to save money and fund your home’s Energy Efficient Mortgage guide.

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*Annual savings calculator based on 2015 monthly average savings extrapolated year-to-date.