Energy Incentives Likely to Grow

The LA Times reported last Sunday, July 26th...."The US Government to widen rewards for energy-conscious homeowners ......"

"For example, if you qualify for a $300,000 FHA mortgage, the FHA might now be able offer you an additional $15,000 if the extra money is used to substantially lower the property's annual energy consumption."

"The FHA is directed to insure a minimum of 50,000 new energy-efficient mortgages during the coming three years. An energy-efficient house is defined as one in which energy consumption is reduced by 20% following renovations"

To view the complete article click
http://ml-implode.com/staticnews/2009-07-27_Energyefficiencyincentiveslikelytogrow.html


For specific applications for homowners visit www.ecoenergyloan.com

Energy Efficient Financing Arrives

With all the news about energy efficiency stimulus money and the AB811 wave throughout California, people are excited about how they can finance PV and energy efficiency retrofits. The AB811 method of financing just the PV and/or energy efficiency, EE has taken off in Sonoma County, Berkeley and Palm Desert and provides an excellent way for homeowners to finance such improvements, albeit at 7.5% amortized over 20 years... it is expensive.

In a meeting with the CEC last week, I presented an alternative for the use of the Federal Stimulus money with a call for subsidies to discount closing costs or buy down the rate on the standard 30 year mortgage. Even as that proposal winds its way through government process, the FHA EEM and 2o3K offer a great way to finance such improvements with rates in the low 5.0%. Soon the EEM will allow up to $30K in improvements, that when tapped on top of the 203K addition of $35K, provides serious energy efficient retrofit capabilities at low, low, the lowest in history 30 year amortization rates.

Visit www.ecoenergyloan.com and see what is available... today