Comments on: Greening Your Mortgage: Energy Efficient Mortgages (EEMs) http://www.getwithgreen.com/2008/10/23/greening-your-mortgage-energy-efficient-mortgages-eems/ Green Home Improvement Fri, 12 Mar 2010 15:08:38 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Timothy http://www.getwithgreen.com/2008/10/23/greening-your-mortgage-energy-efficient-mortgages-eems/comment-page-1/#comment-406 Timothy Thu, 13 Nov 2008 16:14:40 +0000 http://www.getwithgreen.com/?p=655#comment-406 I understand your frustration in trying to find a green mortgage, or any mortgage of that matter, in a time when our economy is facing future uncertainty. I think if a person is interested in buying a green home, their best bet will be to focus on green home designers that have strong partnerships with various green lenders. Many green designers understand their customers frustration in trying to obtain a green mortgage. I have actually found a designer that does focus on helping its customers bridge the gap between designing a green home and paying for it. I think you will find the following website helpful(www.bluhomes.com). If this is not an option with your green home designer many lenders today, as you are aware, are becoming increasingly more familiar with the "green home" concept and are jumping on environmental friendly band-wagon. Good luck in your green mortgage search! I understand your frustration in trying to find a green mortgage, or any mortgage of that matter, in a time when our economy is facing future uncertainty.

I think if a person is interested in buying a green home, their best bet will be to focus on green home designers that have strong partnerships with various green lenders. Many green designers understand their customers frustration in trying to obtain a green mortgage. I have actually found a designer that does focus on helping its customers bridge the gap between designing a green home and paying for it. I think you will find the following website helpful(www.bluhomes.com). If this is not an option with your green home designer many lenders today, as you are aware, are becoming increasingly more familiar with the “green home” concept and are jumping on environmental friendly band-wagon.

Good luck in your green mortgage search!

]]> By: Andrew http://www.getwithgreen.com/2008/10/23/greening-your-mortgage-energy-efficient-mortgages-eems/comment-page-1/#comment-376 Andrew Fri, 24 Oct 2008 18:29:10 +0000 http://www.getwithgreen.com/?p=655#comment-376 As an EcoBroker certified real estate agent I have done my fair share of research into EEM's and Countrywide was the only lender in my area to offer them, but finding a broker that knew what they were was a different story. Once I found one, Countrywide tanked and it all went away. BofA's program is nice, but it used to be you could get up to 15% of the purchase price or up to $30,000 dollars for green upgrades. Up to $3,000 for VA and FHA. Again, though, you have to find a lender that knows what they are. Where ever you may be located, look for an EcoBroker Certified Real Estate agent, most can get you information on lenders that are servicing EEM's, if any exist in the area. Sorry, I don't intend for this to be an EcoBroker ad. Just a way for folks to get information. As for clients who do this kind of loan, I haven't had anyone close on one. It just didn't work out to the be the best option for anyone and the market was moving too fast (at the time) for sellers to be willing to take the time for the energy ratings that are required. As an EcoBroker certified real estate agent I have done my fair share of research into EEM’s and Countrywide was the only lender in my area to offer them, but finding a broker that knew what they were was a different story. Once I found one, Countrywide tanked and it all went away. BofA’s program is nice, but it used to be you could get up to 15% of the purchase price or up to $30,000 dollars for green upgrades. Up to $3,000 for VA and FHA. Again, though, you have to find a lender that knows what they are.

Where ever you may be located, look for an EcoBroker Certified Real Estate agent, most can get you information on lenders that are servicing EEM’s, if any exist in the area. Sorry, I don’t intend for this to be an EcoBroker ad. Just a way for folks to get information.

As for clients who do this kind of loan, I haven’t had anyone close on one. It just didn’t work out to the be the best option for anyone and the market was moving too fast (at the time) for sellers to be willing to take the time for the energy ratings that are required.

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