When applying for a loan to buy in the Augusta Georgia area, refinance or renovate a home, why not consider saving money by using the Energy Efficient Mortgage (EEM)?  The EEM offers benefits to the buyer of an energy efficient home, or the homeowner who increases energy efficiency through remodeling. 

            Fannie Mae’s secondary market guidelines permit approved lenders to stretch debt-to-income ratios, allowing borrowers to qualify for a larger loan to buy an energy-efficient home.  Lenders are allowed to increase the debt-to-income ratio by 2 percent.  The FHA EEM, covering upgrades for new and existing homes, is now available in all 50 states.

            Homeowners who decide to refinance or remodel can ask the lender to increase the loan amount to cover the cost of the energy improvements.  Better energy efficiency makes your home more comfortable and more attractive to prospective buyers in the future.  A home with very low utility bills has improved potential resale value.  Ask your mortgage broker how to apply for an energy efficient mortgage.