Fannie Mae Energy Efficiency Mortgages
WebsiteIncentive Summary
Category: Financing
Provider: Fannie Mae
Amount: Varies
Time Frame: Ongoing
Incentive Type: Loan
Specifics
Mortgage program in which private lenders sell loans to Fannie Mae and Freddie Mac, which in turn allow homebuyers to borrow up to 15% of an existing home’s appraised value for improvements documented by a Home Energy Rating. Fannie Mae adjusts the value of the home to reflect the value of the energy efficiency measures and also lends up to 5% for ENERGY STAR new homes. Fannie Mae EEMs are for single-family, owner-occupied units. Freddie Mac offers EEMs for 1-4 unit dwellings and allows lenders to increase the borrower’s income by a dollar amount equal to the estimated energy savings. Unlike FHA or VA mortgages, these loans are not guaranteed by a particular federal agency.
Forms & Instructions
Filing Instructions:
Apply directly to your local lender. To search for a Fannie Mae lender, visit: http://www.mortgagecontent.net/flApplication/fanniemae/findLender.jsp.
Contact Information
Email: resource_center@fanniemae.comPhone: 800-732-6643
Address:
Fannie Mae
3900 Wisconsin Avenue, NW
Washington, DC 20016