querying the hive mind
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FHA Energy Efficient Programs
April 1, 2004
Has anyone had experience with the
energy efficient program
for FHA mortgage loans?
Home & Garden
(2 answers total)
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I think so. My house has been deemed "energy efficient" by the local power company. I have an FHA mortgage loan. I imagine they rolled the cost into the mortgage.
I guess I don't understand the question. What do you want to know?
on April 2, 2004
Hmm. It's possible that I'm asking the wrong question.
As I understand it, the energy efficient program allows you to roll the cost of making energy efficient upgrades or repairs into your mortgage, up to a limit of $8,000. An example of this would be to outfit a house with solar panels.
From what I've read, you have to have a 'home energy consultant' do an assessment on the property and determine what savings could be generated from the upgrades before the loan is approved.
My question may be better stated as: Is it worth the time and paperwork to make a home more 'green' by retrofitting it with energy saving solutions and having those additional costs rolled into your mortgage? For those that have experienced this program, was it beneficial?
on April 2, 2004
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