{"id":2197,"date":"2015-03-08T22:11:52","date_gmt":"2015-03-09T02:11:52","guid":{"rendered":"https:\/\/ugagreenway.wordpress.com\/?p=2197"},"modified":"2023-01-03T15:30:17","modified_gmt":"2023-01-03T20:30:17","slug":"energy-efficient-mortgages-what-they-are-and-how-they-work","status":"publish","type":"post","link":"https:\/\/site.extension.uga.edu\/greenway\/2015\/03\/08\/energy-efficient-mortgages-what-they-are-and-how-they-work\/","title":{"rendered":"Energy Efficient Mortgages: What they are and how they work"},"content":{"rendered":"\n

For most of us, our home is, or will probably be, our largest financial investment. And, if you are anything like the average financially savvy American, then you are likely looking for ways to cut down on cost and make the most out of every opportunity to save a few hundred dollars here and there. As the single largest housing expense after your mortgage payment, your utility costs can have a direct impact on how large a mortgage you can afford, so finding a way to reduce your utility costs can go a long way to making homeownership more affordable.<\/p>\n\n\n\n

Here is the good news! You can save money on the cost of utilities by purchasing new energy-efficient heating and cooling systems or by making home improvements, such as adding more insulation to older homes. These investments can end up saving you money through lower utility bills. The best part is that, as a new homebuyer, or current homeowner, you may be able to use an Energy Efficient Mortgage (EEM) to finance the cost of these improvements. And, if you are wondering what an EEM is or how it works, well, I heard about it for the first time just a few weeks back and thought it might an interesting thing to look into so I started digging around for information and here\u2019s what I found.<\/p>\n\n\n\n

Energy Efficient Mortgage Programs (EEM)<\/a> <\/strong>allow new homebuyers and current homeowners to finance the cost of energy efficient improvements into their mortgages, without the need to qualify for additional financing, because cost effective energy improvements result in lower utility bills making more funds available for their mortgage payments. The main advantages for consumers are:<\/p>\n\n\n\n