100 non status mortgage

100 non status mortgage
An Energy Efficient Mortgage (EEM) is a mortgage that credits a home energy efficiency in the mortgage itself. Eems give borrowers the option to finance cost-effective, energy-saving measures as part of a single stretch, and mortgage debt to income qualifying ratios on loans to that the borrower the preconditions for a larger loan and a better, more energy efficiency at home.

To view a EEM a borrower typically has a house a home Energy Rater Energy Rating (her) before the funding approved. This rating is examining for the lender that the home is energy efficient.

In the past, most of EEM for buying a new home that already have energy-efficient improvements into effect. However, we specialize in the opposite of that we'll show you how to renovate your current home and add energy efficiency improvements or to purchase an existing home with an FHA 203K renovation loan and add the improvements in the renovation process. And how does this benefit you?

Apart from the fact that you are allowing higher debt-to-income ratios, FHA lenders can Eems to 100 percent of the additional costs for cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs not exceeding $ 4000 or 5 percent of the value of the house, up to a maximum of $ 8000, whichever is greater). You will also end with a far more marketable at home when you sell. We recommend you to take advantage of these improvements, save money, while at the same time, using environmentally friendly materials and techniques to create a really, a house with a minimal impact on the environment. Feel good about your contribution to saving the planet along with saving you some serious coin on your monthly energy costs is a solid combination.

Jonathan Blackwell
Green Renovation Specialist
Hometown Lenders