MyEnergyLoan is a national network of lenders dedicated to providing aggressive closing cost discounts and lower interest rates for buyers of energy efficient homes. An energy efficient home is a healthy home which is more comfortable and built to higher standards. With an eye on sustainability, our network of realtors, builders and lenders are sure to find the right home for you that is built green and financed green.
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myEnergyLoan was created out of a clear need to close the sustainability loop in green building and green living. Building homes takes a lot of energy and living in homes does too. The total operating expenses of a home are largely made up of utility bills and mortage payments. That’s right. We see money as latent energy – energy that could be better applied on things other than the continued depletion of non-renewable resources. Since we don’t want to be part the extractive industries any more than we have to be, we created the myEnergyLoan as a way to make a living and make a difference. |
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PRESS RELEASE
ATTENTION: Money is Getting Greener too
PRESS
RELEASE
ATTENTION: Green Builders and Buyers of Energy Efficient Homes
Atlanta, GA (PRWEB) June 13, 2006
The myEnergyLoan is a major improvement on the Energy Efficient Mortgage,
a government sponsored residential loan program that provides financial incentives for
qualified buyers of energy efficient homes. The myEnergyLoan provides
lower closing costs and PAR pricing for the energy efficient home loans that it certifies
and it is not limited the way the Energy Efficient Mortgage is limited.
In order to qualify for myEnergyLoan financing, the home buyer must buy a home that is certified by either Energy Star, EarthCraft, LEED's or some other energy-rating service. The myEnergyLoan is designed to conform to the buyer’s financial situation rather than needing the buyer to conform to sometimes obscure loan guidelines.
“Finally, there is a loan product that adequately serves the green building market,” says program creator, Jeffrey Cole. “The myEnergyLoan is simple – it provides closing cost discounts and lower interest rates on loans for energy efficient home loans.”
As a result of selecting a myEnergyLoan to finance the home or energy-efficient renovation, the borrower will receive lower closing costs (usually 50% or less of standard 1% origination fee), lower interest rates and up to $8,000 worth of energy efficient upgrades (restricted to FHA, VA and Conventional Loans).
With the myEnergyLoan, the buyer of a $300,000 energy efficient home would save an average of $6,000 which previously was not available even for the most qualified buyer.
The myEnergyLoan effectively closes the sustainability loop with regard to eco-related building and sustainable development because now even the financing is based on and rewards energy efficiency. This should stimulate green home sales and save consumers millions, if not billions, of dollars in the years ahead