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Greg Cowart - Mortgage Broker or Lender at The Securus Group
Greg Cowart - Roseville Loan Guy

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The Energy Efficient Mortgage (EEM)… What is it?

What is an EEM and is it even relevant in the world of real estate in the Roseville/Rocklin area or greater Sacramento?

EEM-Roseville-Rocklin-MortgageWhether you’re purchasing or refinancing, today’s reality is that many of us should consider making energy conservation improvements to our homes. Most homes can benefit from energy upgrades.

Any home built before 1994 should benefit from an Energy Efficient Mortgage. Why?  Simple… The energy codes used up until 1993 are no longer industry standard.  Mechanical systems, insulation levels, and water heaters are the main determining factor in a home’s energy consumption.  Those installed before 1994 are less efficient, not to mention they are old!  With the Energy Efficient Mortgage, you can renew and upgrade all the critical factors that determine the energy consumption of your home, and include the total cost in your home loan.

Personal consumption has increased along with energy costs.  Today’s homes use electronics to manage almost everything, from ovens, microwaves and refrigerators, to DVRs, iPods, and tablet computers; not to mention all the battery chargers needed to keep them running.  Though prices are relatively stable, we use almost 25% more electricity today than we did in 1993.  Natural gas, however, is a different story.  Most of Californians cook, heat their homes, and their water, with gas.  Our consumption has increased a modest 10%, while the price has skyrocketed over 70%.

Simply stated, utility bills have become the second largest monthly expense of modern living, behind the mortgage or rent payment. An Energy Efficient Mortgage may lower both of these costs, definitely utility bills and overall monthly expenses.

There is plenty opportunity to take advantage of an Energy Efficient Mortgage for those looking for homes in Roseville/Rocklin or anywhere in the greater Sacramento market. Like most of the lesser-known special programs ignored by other lenders I’ve become THE local expert in the Energy Efficient Mortgage! Give me a call any time if you’d like more information.

~Greg Cowart
(916) 412-3313

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