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Energy Efficient Mortgages (EEM)
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It pays to be “Green” with an Energy Efficient Mortgage (EEM) because it allows CA FHA borrowers the opportunity to finance energy conservation improvements into the home loan:
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Add the lesser of 5% of the value of the property, or 115% of the median area price of a single-family home, or 150% of the conforming Freddie Mac limit to the loan for energy conservation improvements up to $8,000.
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No additional income qualifications
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100% of improvements financed (no CLTV cap)
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Work completed after loan closing
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Typical energy improvements include:
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Central heating & air conditioning
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Dual-pane windows
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Increased attic/wall insulation
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Energy efficient water heater
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