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(803)477-5729
 
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 (704)218-9671
 

Financing

Energy Efficient Mortgage (EEM)
        Energy Efficient Mortgages are best suited for those:
  • Remodeling
  • Purchasing an older home or looking to make deep “retrofits” or energy efficient upgrades.
  • Those purchasing an existing home

  The EEM loan can be financed through any HUD approved lender and we currently have affiliates who specialize in the product. The benefit? EEM loans have to have positive cash flow in order for the loan to be approved.  For example, if your monthly payment increases by $50 dollars, you must save $ 75 dollars per month in energy bills or a net savings of $25 per month.  Call us for more information or to set you up with a lender who can get you pre-qualified.

 
203K Loans
          203k Loans are for those purchasing an older home and looking to remodel, make “retrofits”, or energy efficient upgrades.  Here is an insert directly from the HUD website:
          When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work. To minimize the risk to the mortgage lender, the mortgage loan (the maximum allowable amount) is eligible for endorsement by HUD as soon as the mortgage proceeds are disbursed and a rehabilitation escrow account is established. At this point the lender has a fully-insured mortgage loan.
For more information from the HUD site go here:              
 
Small Loans
        For customers in North Carolinaand bordering South CarolinaCounties, the State Employees Credit Union currently offers loans for Energy Efficient Improvements. Click here (https://www.ncsecu.org/Loans/GreenSecondMortgage.html)for more information.