Get Your Green on With an EEM
You say you don’t have an extra wad of greenbacks to give your L.A. home an eco-friendly upgrade? Well, if you’re buying a new house, there’s a simple way to create an environmentally enriching living space that significantly cuts down on the natural resource drain – and your money drain for utility bills.
An energy efficient mortgage (EEM) offers homebuyers a golden opportunity to finance energy-saving improvements in a single, convenient loan package. Instituted and backed by Uncle Sam, an EEM enables a lender to ‘increase’ a borrower’s reported income by a monetary amount that matches estimated energy savings. The better debt/income ratio allows for a fatter home loan. For most people, this show of lender generosity is far easier than slinking into the office of your boss on hands and knees and pleading for a raise.
Among the upgrades covered by an EEM are adding double-paned windows, tankless water heaters, new HVAC systems, the full range of Energy Star appliances, and new insulation. The last on the list is real biggie — the U.S. Department of Energy reports that 60% of U.S. homes are not sufficiently insulated. Blanketing your home with new insulation can save you as much as 10% on your annual energy costs.
If you’d like more info about improving the energy efficiency of your L.A. home with an EEM, feel free to reach out to me. Or just fire your questions or comments into the box below. There’s always a vacancy.
And, of course, if you want to be connected to the latest info and opportunities in the Beverly Hills real estate market, I’m ready to make it happen. Call or email today.
(310) 666-4094 DIRECT
(310) 724-7100 OFFICE