myEnergyLoan Program Provides Huge Savings for Buying An Energy ...

myEnergyLoan Program Provides Huge Savings for Buying An Energy Efficient Home

Atlanta, GA (PRWEB) June 12, 2006

The myEnergyLoan is a major improvement on the Energy Efficient Mortgage, a government sponsored loan program that provides financial incentives for qualified buyers of energy efficient homes. The myEnergyLoan provides lower closing costs and PAR pricing for the energy efficient home loans that it certifies.

In order to qualify for myEnergyLoan financing, the home buyer must buy a home that is certified by either Energy Star, EarthCraft, LEED?s or some other energy-rating service ? most commonly using a HERS rating.

As a result of selecting a myEnergyLoan to finance the home or energy-efficient renovation, the borrower will receive lower closing costs (usually 50% or less of standard 1% origination fee), lower interest rates and up to $ 8,000 worth of energy efficient upgrades (restricted to FHA, VA and Conventional Loans).

With the myEnergyLoan, the buyer of a $ 300,000 energy efficient home would save an average of $ 6,000 which previously was not available even for the most qualified buyers. This is big news that will change home lending.

The myEnergyLoan effectively closes the sustainability loop with regard to eco-related building and sustainable development because now even the financing is based on and rewards energy efficiency.

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