Is the cost of utilities putting financial pressure on your budget? Do you ever wish that there was an easy and low cost way to figure out how you can save money on utilities? Do you want to know how your home stacks up against others in your area from an energy efficiency standpoint?
Well, wonder no longer. All you need is a Home Energy Score (HES) assessment from a qualified assessor, like me.
This program from the Department of Energy is relatively new. They created it in order to provide a quick and less costly way to determine the “low hanging fruit”, so to speak, from an energy savings perspective. This is not a full blown energy audit which could cost hundreds of dollars more, but a quicker and more streamlined service that gets you the information you need to start saving.
There are also advantages when buying a home. Under FHA’s standard underwriting criteria, borrowers can borrow up to 31 percent of their income for mortgage payments (principal, interest, taxes and insurance), or up to 43 percent of all debt. Under the new policy, FHA borrowers can qualify for a two percent “stretch ratio” if they buy an energy-efficient home (or refinance an existing mortgage) that scores at least a 6 on DOE’s 1-to-10 Home Energy Score scale. With the stretch ratio for energy efficient homes, lenders can “stretch” the qualifying ratios to 33 percent and 45 percent respectively.
Click Here to go to the DOE site that answers frequently asked questions about the program.
Click Here for more information on the Home Energy Score/FHA program.
Click Here to download a sample Home Energy Score report.
And of course, you can always call me.
