Buying a Home Needing Improvements?
Today, I attended a webinar on “green” mortgages and learned more about this year’s chosen field of study for me… “green” real estate. There are two types of loans that have actually been around since 1995:
Energy Efficient Mortgages, most commonly referred to as EEM’s.
Energy Improvements Mortgages, referred to as EIM’s
So what’s the difference between the two? The EEM is normally used to purchaser a new home that is already energy efficient and the EIM is to purchase or re-finance for an existing home that will have energy efficient improvements completed with some of the mortgage monies.
I’ve taken on a big educational project, yet am finding it very interesting. Thank goodness for the internet…… and all the various classes available. Let me know what questions you may have on becoming energy efficient, obtaining a green mortgage or anything else. I may not have the answers yet… but I’ll definitely enjoying finding them for you.