texas mortgage rates
Your Texas Mortgage Rates
Lending Source

10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us

 
 
 

Energy Efficient Mortgage

The Energy Efficient Mortgage (EEM) is offered through Fannie Mae’s Housing and Environment Initiative and promotes the purchase of more energy-efficient homes or the retrofit of existing homes to be more efficient. The EEM recognizes the potential energy savings as qualifying income for home buyers who purchase an energy-efficient home. 

 

Conserve energy, save money, and live comfortably

The EEM option can be combined with most Fannie Mae products (one-unit, owner-occupied only) and is now eligible for adjustable-rate mortgages (ARMs).

Fannie Mae’s MyCommunityMortgage™ (MCM)—one product with which EEM can be used—is available for low- and moderate-income home buyers who wish to purchase efficient homes. The MCM requires only a $500 contribution from the borrower’s own funds, which can come from a variety of sources. With the EEM option, utility, government, and manufacturer rebates are acceptable sources of contributions. 

NEW MCM product enhancements include reduced mortgage insurance requirements, more flexibility regarding second mortgages, and use of cash-on-hand for closing and down payment costs. All MCM lenders can originate loans with the EEM option.

 EEM Highlights

Recognize energy savings as qualifying income

Allows energy improvements to be financed

Increase home-buying power

Lower energy costs and household expenses

All incomes eligible

Flexible and affordable finance options

Increase home value

Help improve air quality and create a more comfortable living environment

 

Consumer Benefits

  • Energy savings can increase borrowers' qualifying ratios
     
  • For purchase or refinance
     
  • Up to 100% LTV
     
  • Energy efficiency may help the borrower achieve lower monthly operating expenses

 

2006 Conforming Loan Limits

Number of
Units
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925

For More Information  

 

  Correcting Your Credit  
  Credit Advice  
Building Good Credit
  Request Your Credit Report
Credit Dispute Letter
Credit File Segregation
Credit Repair
Debt Settlement
 
Disputing Incorrect Personal Information
  Sample Credit Dispute Letter
Identity Theft Protection
Refinancing To Pay Off Credit Cards
  If You Have Been Scammed
Removing Unauthorized Inquiries
How Long Does Negative Information Stay on Your Credit Report
  Correcting Your Credit  
  FHA Loans  
Bad Credit Mortgage Refinance
Debt Consolidation Vs. Debt Negotiation
Home Mortgage Mistakes Commonly Made
Improve Your Credit Rating
Signs You Need To Consolidate Debt
 
FHA LOAN QUALIFICATION
FHA Loan Rate
FHA LOAN PROGRAM
FHA STREAMLINE REFINANCE
FHA Mortgage Rate
  Mortgage Programs  
  Home Equity Loans  
Two Step Mortgage
Rural Housing Loans  
Home Equity Loan Refinancing
My Community Mortgage
Community Home Buyers Program
 
Home Equity Loan Refinancing
Two Step Mortgage
Simultaneous Second
Mortgage
Finding Home Inspectors

Mortgage Glossary10


 

Mortgage Rates Apply Online Credit Basics

Home Equity Basics

Mortgage Basics

Contact Us

About Us

Mortgage News  Helpful Articles

Mortgage Calcultator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE:
214-387-0683EMAIL: info@brown-lending.com

 

"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."

 

 

Fixed Rate Mortgage