Phoenix, AZ (PRWEB) October 17, 2011
Today, Phoenix energy efficiency consultants Entirely Pure announced guidelines to help consumers understand Energy Efficient Mortgages (EEMs). EEM's provide the borrower with special benefits when purchasing a home that are energy efficient or can be made efficient through the installation of energy savings improvements.
With these loans a homeowner can:
1. Make an older, less efficient home more comfortable and affordable.
2. Qualify for a higher loan amount.
3. Stretch debt-to-income qualifying ratios on loans.
4. Save money every month on utility bills.
5. Increase the potential resale value of their home.
6. Sell their home more quickly by making it more affordable to people and attracting attention in a competitive market.
In addition, there’s one more huge advantage. Although many homeowners would love to refinance with the current historically low interest rates, refinancing requires an appraisal. With so many homeowners underwater (owing more on their mortgages than its appraised value), the refinance process can come to an immediate halt. However, an EEM removes that hurdle since appraisals are not required. Thus, with this program they can lower their interest rates and their utility bills.
EEMs include the cost of installing cost effective energy improvements – such as solar heating, air conditioning systems, insulation, and other forms of weatherization – in the total amount being financed or refinanced. True, monthly mortgage payments may increase slightly, but consumers ultimately save money because their energy bills will be lower.
As part of the program, it’s important to note that the combination of the lower mortgage payment with the lower monthly utility bills must result in the customer’s average expenditure being less than prior to the EEM.
“The EEM is a great way to take advantage of the lower interest rate, help reduce your carbon footprint, and take advantage of energy efficient upgrades to your house,” says Marketing Director of Entirely Pure, Melika Bakhshai.
Entirely Pure can walk a homeowner through the entire process, start to finish, with all the necessary facts and tools. They’ve teamed up with different mortgage companies to help homeowners get the financing. In addition, they conduct the required comprehensive energy audit (HERS) required for the loan and arrange for the installation of the upgrades.
“We make the process as simple and smooth as possible for the homeowner,” says Bakhshai. “This is a great opportunity for homebuyers and homeowners.”
For more information about how Entirely Pure can help as a one-stop shop for EEMs, please call (480) 776-5883. To learn more about all their services including energy audits, radiant barriers, solar waterheaters, HVAC upgrades, window tinting, indoor and outdoor sealing, as well as reverse osmosis watercoolers, please visit their website, http://www.entirelypure.com.
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