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To qualify for the Energy Efficient Mortgage, you will need to meet some FHA loan guidelines. These include being eligible for the maximum FHA-insured financing available, and the improvements must be cost effective.

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April 22, 2019
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How Do I Get an Energy Efficient Mortgage?

FHA Common Question #27

The FHA's EEM is a very attractive proposition; it allows you to borrow additional money to incorporate energy saving features into your home and no additional "cost" to you in terms of having to qualify or make a down payment on the additional funds. Plus you get all of the energy saving technology and/or materials you desire to include into your living space.

To qualify for the EEM, you'll need to meet some FHA loan guidelines. These include being eligible for the maximum FHA-insured financing available, and the improvements must be cost effective. "Cost effective" according to FHA loan guidelines means that the cost of the improvements must be less than the total value of the energy savings over the life of the equipment or materials installed to save energy. That total value is calculated according to FHA loan guidelines at current levels. This kind of loan may take some extra homework on your part, but the savings would be well worth the effort.

Contact your FHA approved lender to get help with resources in determining the cost of the materials and equipment versus the savings. Chances are your FHA lender has encountered your questions before and can give you a good head start on gathering the required information.

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