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Phoenix
has an arrangement with a national mortgage
company, which will consider applications for
Energy Efficiency Mortgage loans, or EEM’s.
Under this program, the utility saving due to
the higher energy efficiency of the home is
added to the applicants’ income for borrowing
purposes and significantly more money can be
lent on such a home. This can help more people
with lower incomes qualify for the home and can
offer others who already qualified, access more
cash for upgrades or to reduce their downpayment
or make up for a shortfall in their previous
home sales price. In any event, a lower
downpayment can be considered with an EEM, also
making it possible for more buyers to acquire
these fantastic homes. |
