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 Energy Efficient Mortgage (EEM)

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Energy Efficient Mortgage (EEM)

The cost of the energy improvements and the estimate of the energy savings must be determined upon a physical inspection of the property by a Home Energy Rating System(HERS) or energy consultant.

The estimate of the energy savings in new construction must be based upon a comparison of plans and specifications of the basic house with the additional energy-savings improvements. The additional energy-saving improvements to the basic house must comply with the most current FHA energy conservation standards. Presently, these standards are those of the 1992 CABO Model Energy Code(MEC).

The energy inspection of the property must be performed prior to completion of the work write-up and cost estimate to ensure work items are not duplicated in the mortgage.

After the appraisal is completed, the costs of the energy improvements are calculated by the lender to determine the amount that can be added to the mortgage.

 

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