On December 1, 2010, Fannie Mae announced an update to its selling guide that provides a new option to fund energy-efficient home upgrades with help from the electrician Gilbert AZ while maintaining Fannie Mae’s principles of borrower sustainability. All Fannie Mae loan products are permitted to include the energy improvement feature excluding certain refinance loans. Eligible borrowers will be allowed to use loan proceeds to finance energy improvements up to 10% of the “as completed” appraised value of the property. Image result for energy efficiency Loans that include energy improvements are subject to applicable loan-to-value eligibility ratios. Some of the additional requirements include: * Borrower must obtain an energy report prepared by a Home Energy Rating Systems (HERS) energy rater. Fannie Mae is providing lenders with loan level pricing adjustment credit of $250 (to be passed on to the borrower) for loans with the energy improvement feature, provide Thermostat Wiring Color Code, (Checkout our best York Air Conditioner Reviews). The $250 credit is intended to provide a borrower incentive that will help to offset the costs associated with the required energy audit report. Learn about Thermostat Wiring Color Codes when upgrading to new smart thermostat. * All mortgage loans with energy improvement features require an appraisal based on an interior and exterior property inspection. Additional information can be found on Fannie Mae’s website.

One thought on “Fannie Mae Announces Energy Improvement Loan Feature

  1. Great goods from you, man. I have remember your stuff prior to and you are just too magnificent. I actually like what you have obtained here, certainly like what you are saying and the best way wherein you assert it. You are making it enjoyable and you continue to take care of to stay it wise. I can’t wait to read far more from you. That is actually a terrific web site.