Did you know that investing in NEW Energy Efficient Heating and Cooling Systems, or by making home improvements, such as weatherizing and insulating older homes can not only save you loads of money monthly on your utility bill, but FHA will allow you to finance the cost of the improvements?  These improvements can be included in the financing of a purchase or a refinance of a home without qualifying for additional funds.  As if that is not enough, additionally the program allows for a end of the year tax credit!  Funds for the energy efficient inspection as well as the improvements and/or purchase of utilities will be deposited into the escrow account prior to close.  The amount is up to 5% (not to exceed $8,000) or $4,000, whichever is greater.

FHA’s Energy Efficient Mortgage (EEM) Fact Sheet explains in detail the eligiability, cost and types of improvements allowable by HUD.

For more information on this excellent program, contact a HUD-approved lender.