Energy Efficient Mortgages
Environmentally friendly Miami Beach homes continue to gain favor among buyers seeking residences that are also considerate to the earth. What’s more, the emergence of energy efficient mortgages (EEM) offers an incentive to buyers since these loans are more affordable. Nowadays all the major lenders like the Federal Housing Association and Fannie Mae offer some kind of EEM.
Choosing an EEM also means that should you decide to make upgrades on Miami Beach homes, the interest rates you pay on these mortgages can be used as a tax deduction as well as a means of financing additional home improvement projects. Generally these projects are intended to further improve the energy efficiency of your home and are a great means of staying away from credit cards.
Although they result in additional money in your pocket and earth benefits, an EEM will require that you fill out additional paperwork than a traditional mortgage and it may take longer to actually process. Also, to actually qualify for one of these your Miami Beach homes must be verified by a Home Energy Rating System. If you don’t mind these hurdles, an EEM is definitely worth inquiring about.
Choosing an EEM also means that should you decide to make upgrades on Miami Beach homes, the interest rates you pay on these mortgages can be used as a tax deduction as well as a means of financing additional home improvement projects. Generally these projects are intended to further improve the energy efficiency of your home and are a great means of staying away from credit cards.
Although they result in additional money in your pocket and earth benefits, an EEM will require that you fill out additional paperwork than a traditional mortgage and it may take longer to actually process. Also, to actually qualify for one of these your Miami Beach homes must be verified by a Home Energy Rating System. If you don’t mind these hurdles, an EEM is definitely worth inquiring about.
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