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Energy-Efficient Mortgages

by Glenda Daughety & Team

As a home owner, you may want to finance energy-efficient upgrades for your existing home or new home through the use of an Energy Efficient Mortgage (EEM). These "green mortgages" enable you to finance your upgrades by rolling the cost into the mortgage without creating a new loan.

One of the benefits of an EEM is that lenders can extend your debt-to-income qualifying ratio, enabling you to take out a larger home loan than allowable in a traditional mortgage.

The up-front cost of an EEM may be higher than a traditional loan, because of the improvements that will be made to the house to make it more energy efficient. But you should save money in the long run through lower energy costs.

To qualify for an EEM, you'll need to first schedule an energy audit with an approved inspector.

There are three types of EEMs:

With a conventional EEM, the lender will credit your income by an amount equal to the money you'll save with energy efficient upgrades and renovations. It's the most commonly-used EEM.

By combining your income with the energy savings you'll gain through upgrades, your income will then be higher for underwriting purposes. This would allow to buy a more expensive home than you might otherwise qualify for.

Federal Housing Administration EEM
With an FHA EEM, you will be provided mortgage insurance if you're looking to buy or refinance a home, and plan to incorporate the costs of energy saving into the mortgage. You must meet all the requirements of an FHA loan.

By using an FHA EEM, you borrow the lesser of the total cost of the improvements (plus the report and inspection), or the lesser five percent of the value of the property, 115 percent of the average price of a single-family home in the area, or 150 percent of the Freddie Mac loan limit.

Additionally, the energy-efficient improvements must cost less than the total amount saved over the life of the improvements. The improvements must be made after the loan closes - the funds for the improvements are put in escrow and released when your loan closes.

Veterans Administration EEM
This type of EEM makes green mortgages available to veterans who qualify for financing through the Veterans Administration. As a veteran, you'll be allowed to upgrade an existing home and, typically, these loans are from $3,000 to $6,000.

Best Home Improvements for the Money

by Glenda Daughety & Team

When preparing to place your home on the market, performing a few renovations will improve the curb appeal and value of your property. This transforms into greater interest and a faster sale. These improvements are worth the investment:

Cement Siding

If the exterior of your home needs a makeover, consider fiber-cement siding. This durable material requires less maintenance than traditional siding options, and is available in various designs and colors to blend with your neighborhood and landscaping.

Add Decking

An attractive wood deck invites people to think about bar-b-ques and family gatherings. Your home will appear more attractive, especially to those who enjoy hosting parties. Make certain that it is wheelchair accessible for an even greater appeal.

Update the Bathrooms

For a reasonable fee, you can transform the appearance of the bathrooms in your home. Replace existing light fixtures and knobs with modern styles. You can also replace the shower head and touch up the grout in order to make it alluring. If the mirror is dingy, replace it and add a coat of paint to brighten the entire room.

Transform the Kitchen

One of the most important areas that prospective buyers will view when considering your home is the kitchen. Make sure that the layout is attractive and easy to use, possibly adding an island and bar stools. Also, replace appliances with energy efficient models in attractive styles and change outdated hardware. You can add a dishwasher or replace the cabinets for increased functionality and appeal.

Window Replacements

New window treatments can add to the aesthetic appeal of your home, inside and out. Double-paned windows increase energy savings, which can add to the value of your home as well.

Transform the Attic

If your attic has adequate space, transform it into a livable area. This extra area has extreme potential when finished, including as a craft room, man cave or additional bedroom. Make certain that you adhere to state and local regulations regarding this renovation.

Don't Forget the Basement

Like the attic, this extra area will entice more buyers when transformed into a usable area. Whether as a bedroom or gaming area, a basement remodel will provide more living space in the home.

Adding a few of these remodeling projects into your home is a great way to increase the value and encourage potential buyers to become the new owners.

Displaying blog entries 1-2 of 2

Contact Information

Photo of Glenda Daughety Real Estate
Glenda Daughety
RE/MAX First
4750 Sherwood Common Blvd
Baton Rouge LA 70816
Fax: 225-612-6422


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Glenda Daughety & Team
RE/MAX First
Office: 225-291-1234
Cell: 225-205-2672
4750 Sherwood Common Blvd
Baton Rouge, LA 70816
Each Office Independently Owned and Operated
Licensed Realtor in the State of Louisiana by the Louisiana Real Estate Commission

Glenda Daughety, Team Leader

Michelle Copeland, Buyer Specialist

Ashley Daughety, Buyer Specialist / Stager Decorator






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