Loans For Energy Efficiency Improvements

If your interior windows are in good shape then installing storm windows is a quick way to increase your energy efficiency without going through the expense and the mess of ripping out your current windows says celia kuperszmid lehrman deputy home editor at consumer reports.

Loans for energy efficiency improvements.

The improvements can be included in a borrower s mortgage only if their total cost is less than the total dollar value of the energy that will be saved during their useful life. Most energy efficient financing programs offer both types of eems as well as home improvement loans for making energy efficiency upgrades to your existing home. Home energy rating a home energy rating will help you qualify for an eem by telling you and the lender how energy efficient the home is. Energy efficiency loans are unsecured loans more like the personal loans or lines of credit that you can take out from a creditor.

An energy efficient mortgage is a mortgage backed or secured loan which means that you use your property as collateral. Energy efficient mortgages eems are similar to a standard home mortgage in that they use your property as collateral for a loan. Energy efficient mortgages can be used to make energy efficient improvements in one or two unit existing and new homes. With an eem you can purchase or refinance a home that is already energy efficient or you can purchase or refinance a home that will become energy efficient after energy saving improvements.

Storm windows can be a lower cost alternative to a full blown window replacement project.