The Home Buyer's Korner

Information presented should be used for educational purposes only.

March 29th, 2015

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GREATER FOLSOM CALIFORNIA

The Home Buyer’s Korner

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Go Green With Your Home Purchase

If you’ve been considering going green, talk with your mortgage lenders about the Energy Efficient Mortgage (EEM) and receive additional funds for purchasing energy efficient items and help make your home purchase more environmentally friendly.

Installing a solar energy system may be a very smart way to help you save money, in addition to helping the environment!

The federal government, many states and even local utility authorities are providing tax incentives and rebates for installing solar panels and other energy efficient appliances. Taking a little time and researching your options could save you thousands, which makes going green all the more to your advantage. when choosing a place to call home.

To help get you start finding out what you might qualify for here are a few links:

Once you’ve decided to go green there are many installers to select from, but not all might have the necessary experience.  If you’re thinking about a solar energy system or other energy efficient items be sure to ask the questions and get references! 

Some question to help you get start would be:

How many solar panel systems have they installed?

You want to make sure to find a reputable company that has significant solar experience and has successfully completed at least 50 installations.

Ask for seasoned referenced (at least a few years old) before you sign anything. Doing so gives you an opportunity to ask your about contractors follow up service as well.

What is the output in kWh per year?

Many times, solar panel brands will claim to be more efficient than others.

You’ll want to weigh the annual output against the price to determine what system is going to be the most cost effective for your home.

When getting an Energy Efficient Mortgage (EEM) it’s important to note you’ll want to have an energy audit on your home purchase, as part of the inspections process to maximize your home’s energy efficiency before sizing the solar power replacement system. You may be able to install a significantly smaller, and less costly system simply by doing a few additional home improvements.

How long is the warranty on the panels?

Most high-quality solar panel systems have a warranty for at least 25 years.

Top-of-the-line panels usually guarantee an output of no less than 90 percent after ten years and no less than 80 percent after 25 years.

Be wary of any company whose panels don’t come with a warranty.

Do they include a warranty on labor?

Many states require a warranty on labor in order to receive your rebate.

Reputable installers should have no problem including at least a 10-year warranty.

What is the final price?

Don’t get separate pricing for the parts, labor and rebates. Get a comprehensive price, so you can directly compare the total cost and kWh per year among providers.

Also, pay attention to the difference between purchasing your solar power system versus the leasing options available.

Leasing has become popular due to the low — or possibly no– up-front cost, but most experts agree that purchasing the system leads to a quicker payoff and return on your investment and you can’t include the cost in your EEM, FHA 203K or FNMA HomeStyle Renovation if you lease your system.

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CALIFORNIA HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen you will

have the option to “Create A Printable PDF of the Presentation”.

START YOUR PATH TO HOME OWNERSHIP TODAY

FHA, FHA 203K, USDA RHS Zero Down Loan,

FNMA HomeStyle, FNMA My Community Mortgage,

FHA One Time Close Construction, Portfolio or VA home loan

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