Summer is around the corner, can you feel it? Before the season heats up, have you considered upgrading your home to a more energy efficient flow? You are in luck as it might just have become less expensive to do so.
For years, California has seen an increase in energy efficient upgrades as homeowners have tied them to property tax bills. Fannie Mae has recently started a HomeStyle Energy Program which is a mortgage option that will “allows borrowers to finance clean energy upgrades equal to up to 15% of the as-completed appraised value of the home” –Green Tech Media. Essentially, in turn for making energy upgrades to your home you will be able to lower your mortgage and save money on energy bills. What’s not to love?
There are a few important details to remember though. The upgrade to your home must be completed within 180 days after you have been issued a mortgage note. In addition, you must provide an energy report which indicates how much the borrower is saving monthly. If you’re willing to file all the paperwork and make your house energy efficient then you can expect to see your monthly costs drop dramatically!
What do you think of this program? Do you think it will encourage more people to make their homes energy efficient? Comment below. If you’re thinking of making your home more energy efficient, let us know, we’d be happy to share our experiences with you.