| We all know that saving energy and reducing | | | | improvements is included within the mortgage, but |
| carbon emissions is everyone's responsibility, and | | | | the size of the down payment remains |
| that it starts at home. The various things we can | | | | unchanged. Both EEMs (and EIMs) receive |
| all do to make our home 'greener' have been well | | | | sponsorship from federally insured mortgage |
| documented - from energy saving light bulbs to | | | | programs. |
| timber floor and wall insulation to setting the | | | | Other different kinds of EEM on offer include the |
| heating correctly, bleeding radiators and putting a | | | | Veteran's Administration (VA) EEM, available to |
| cover over the hot water cylinder. But you may | | | | military personnel including reservists and |
| not be aware that, as well as playing its part in | | | | veterans, and FHA EEMs which add 100% of the |
| helping the environment, having an energy | | | | price of cost-effective energy efficiency |
| efficient home can be kind on your pocket as well. | | | | improvements to an already approved mortgage |
| Some of the measures listed above, such as | | | | loan. |
| energy saving lightbulbs, or turning down the | | | | Tax credits are also available on a range of |
| heating a couple degrees, offer savings pretty | | | | measures to make your home more energy |
| much right away. You will recoup the cost of | | | | efficient. These credits are available at 30% of |
| other measures, like insulation, through reduced | | | | total cost, capped to a $1,500 limit, for installation |
| bills over many years, but they may not be a | | | | until the end of 2010 of various building |
| 'quick fix' money saver. | | | | components and energy products, from roofs |
| As well as cheaper fuel bills, there are other cost | | | | which resist heat gain to energy efficient water |
| benefits to having an energy efficient home. | | | | heaters, stoves, furnaces and air conditioning fans. |
| Energy efficient mortgages, for example, credit a | | | | The Wind, Solar, Geothermal and Fuel Cell Tax |
| home's energy saving measures in the mortgage | | | | Credit is payable at nearly a third of the cost, |
| itself. They allow borrowers to qualify for a larger | | | | with no cap through 2016, on new builds and |
| mortgage, and help finance energy-saving | | | | existing properties on geothermal heat pumps, |
| measures. Typically, you need to have your home | | | | solar panels and water heaters, fuel cells and solar |
| professionally rated for energy efficiency before | | | | water heaters. |
| these loans are approved. Often times, EEMs are | | | | Make sure that you keep all the relevant receipts |
| for buying new homes which are already energy | | | | and other records, and apply for the right tax |
| efficient. | | | | credit. More information is available from the |
| EEM is a generic term referring to all kinds of | | | | Internal Revenue Service (IRS) and the National |
| energy-based home loans. It includes various | | | | Association of Home Builders (NAHB), which can |
| different kinds of EEM, such as Energy | | | | also help put you in touch with someone in your |
| Improvement Mortgages (EIMs) which are for | | | | neighborhood who can install the energy saving |
| buying properties that will have energy efficiency | | | | measures. |
| improvements made to them. The cost of these | | | | |