The question is, why isn’t the Energy Efficient Mortgage?  According to HUD, an energy efficient mortgage is just as easy as the FHA loan itself.  The difference is, you can be financed up to 5%  of the property value for the home improvements, potentially saving much more than that over the 30 years of mortgage payments.

So we did a little research, and called a few FHA brokers and loan officers (of whom shall remain nameless).  What we found was astounding, it all came down to a single piece.  The HERS Rater. 

It seems that because of the extreme competition of buying the home, another moving piece is just too much for the lender and the homeowner.  Thus, homeowners are just not told about this golden program.  The truth is, the HERS rater is probably the easiest part of the whole home buying process.  They’re in and out within a few hours, experienced in energy saving measures, and can tell you things about your home that the inspector, appraiser and real estate agent can’t.  All they need to give you is a piece of paper.

To find a HERS Rater (and they probably know more about this program than anyone else) check out http://www.californiahersrater.org for a list of qualified professionals.

Until next time—

Opie, you haven’t finished your milk.  We can’t put it back in the cow, you know.  ~Aunt Bee Taylor, The Andy Griffith Show