All dream to have a better house and save on energy costs. But, some find the key to it. One of them is energy-efficient mortgage. Energy-efficient mortgages (EEM) are stirring interest among home buyers, lured by the promise of lower monthly utility bills. Home buyers will also have the ability to qualify for larger home loans enabling them that may have been priced out the rising housing market to buy larger and better homes. Though, traditional mortgages are calculated based on a person’s debt-to-income ratio, these so-called “green” mortgages are based on the premise that a more energy-efficient home will result in lower monthly utility bills. Since a person will be paying less in utility bills, that savings translates into income, allowing a homebuyer to qualify to buy a more expensive home.
Via: CNN Money