VA Energy Efficient Mortgage Program

The VA Energy Efficient Mortgage (EEM) program is an excellent opportunity for veterans and active military personnel to finance home improvements that save energy and money.

Whether you’re planning to buy a new home or upgrade your current one, this program allows you to include the cost of energy-saving upgrades directly into your mortgage.

What is the VA Energy Efficient Mortgage Program?

The VA EEM program is designed to help veterans and active-duty service members incorporate energy-efficient improvements into their homes. This program can finance a range of upgrades, making your home more comfortable and cost-effective while also contributing to environmental sustainability.

Qualifying Improvements

When considering energy-efficient upgrades, think beyond just new appliances. Here are some of the improvements that qualify:

• Solar Heating Systems: Includes both water and space heating systems that utilize solar energy.
• Heating and Cooling Systems: Upgrades to more energy-efficient models, including those that use renewable energy sources.
• Weatherization: Adding caulking, weather stripping, and updating your furnace to a more efficient model.
• Thermostats and Insulation: Installing clock thermostats and adding extra insulation to your ceilings, attic, walls, and floors.
• Energy-Efficient Windows and Doors: Replacing old windows and doors with energy-efficient models.
• Water Heaters and Heat Pumps: Upgrading to more efficient water heaters and heat pumps.
• Vapor Barriers: Installing vapor barriers to reduce moisture and improve energy efficiency.

How Does EEM Financing Work?

The VA EEM program allows you to add the cost of energy-efficient improvements to your mortgage. Here’s how it works:

• Up to $3,000: If the cost of your documented improvements is up to $3,000, it can be added directly to your mortgage.
• Up to $6,000: For improvements costing between $3,000 and $6,000, the additional amount can be included as long as the increase in your monthly mortgage payment does not exceed the likely savings in utility costs each month.

Important Cap on Financing

The program has a cap of $6,000 for energy-efficient mortgages. This cap ensures that you are making smart financial decisions while enhancing your home’s value and comfort.

Why Consider the VA Energy Efficient Mortgage Program?

There are several compelling reasons to take advantage of the VA EEM program:

• Increase Home Value: Energy-efficient improvements can significantly boost your home’s market value.
• Enhanced Comfort: Upgrading your home with energy-efficient features can improve your living conditions.
• Environmental Impact: Reducing energy consumption contributes to a healthier planet.
• Utility Savings: Over time, the savings on utility bills can be substantial, offsetting the initial investment.

Take Action Today

Interested in making your home energy-efficient with the help of a VA mortgage? Don’t wait to make your home the best it can be.

Contact us today to find out how you can start making these critical improvements with an energy-efficient mortgage. Save energy, save money, and save the planet. Let’s make your dream home a reality.

FAQs: VA Energy Efficient Mortgage Program

What is the VA Energy Efficient Mortgage (EEM) Program?

The VA EEM program is a special type of loan available to veterans and active-duty service members that allows them to include the cost of energy-efficient home improvements in their mortgage.

Who is eligible for the VA EEM program?

The program is available to veterans, active-duty military personnel, and qualifying surviving spouses who are eligible for a VA home loan.

What types of improvements qualify for the VA EEM program?

Qualified improvements include solar heating systems, energy-efficient heating and cooling systems, caulking, weather stripping, furnace upgrades, clock thermostats, additional insulation, energy-efficient windows and doors, water heaters, heat pumps, and vapor barriers.

How much can I finance with a VA EEM?

You can finance up to $3,000 in energy-efficient improvements without additional qualifications. For improvements costing between $3,000 and $6,000, the increase in your monthly mortgage payment must not exceed the estimated savings in utility costs.

Is there a cap on the amount I can finance with a VA EEM?

Yes, the cap for energy-efficient improvements under the VA EEM program is $6,000.

How does the VA EEM program benefit me financially?

The program helps you reduce utility bills by financing energy-efficient improvements. Over time, the savings on your utility bills can offset the initial investment, leading to overall cost savings.

Can I use the VA EEM program for both new and existing homes?

Yes, the VA EEM program can be used to finance energy-efficient improvements for both new home purchases and existing homes.

Do I need to provide documentation for the improvements?

Yes, you will need to provide documentation detailing the cost and type of energy-efficient improvements you plan to make. This helps ensure that the improvements qualify under the VA EEM program guidelines.

How do I apply for the VA EEM program?

You can apply for the VA EEM program through a VA-approved lender. They will guide you through the process and help you determine which improvements qualify and how much you can finance.

Are there any restrictions on the types of energy-efficient improvements I can make?

The improvements must meet specific criteria set by the VA to qualify for the EEM program. They should be cost-effective and contribute to significant energy savings.

Can the VA EEM be used for minor improvements?

Yes, even minor improvements like adding extra insulation, caulking, and weather stripping can be financed through the VA EEM program.

Will my monthly mortgage payment increase if I use the VA EEM?

Your monthly mortgage payment may increase depending on the cost of the improvements. However, the increase should not exceed the expected savings in your utility costs, making it a financially sound decision.

How does the VA EEM contribute to environmental sustainability?

By financing energy-efficient improvements, the VA EEM program helps reduce energy consumption, lowering your carbon footprint and contributing to a healthier planet.

What are the long-term benefits of the VA EEM program?

The long-term benefits include increased home value, enhanced comfort, lower utility bills, and a positive environmental impact.

Who can I contact for more information about the VA EEM program?

For more information, you can contact a VA-approved lender or reach out to us directly to learn how you can start making energy-efficient improvements to your home with the VA EEM program.