Energy-Smart Renovations with Energy Efficient Mortgages (EEMs)

Buying a home that needs some work? Want to save some money?

Viridiant’s new Community Energy Services division are available to help you plan energy-smart renovations. Use an Energy Efficient Mortgage (EEM) or traditional renovation loan (203K, etc.) to increase your borrowing power and roll upgrades into your mortgage payment.

You get critical work done before you move in, and then enjoy lower total cost of ownership while you’re in the home.  We can inspect and test the home to craft a package of improvements that will reduce your energy costs more than the increase to your mortgage.

Viridiant can:

  • provide consultation regarding the smartest energy improvements and provide the inspection, testing, and energy modeling (a computer simulation of your home’s energy use to calculate the energy and economic impact of different efficiency strategies) that are needed for the EEM process
  • utilize energy modeling software allows us to “test-drive” different changes to the home you want to buy
  • craft an improvements package that, when paid for via your mortgage, results in total monthly bills that are less than they would be if you didn’t do the improvements

If you’re in an Opportunity Zone, there are additional opportunities:

203k loans typically let home buyers borrow up to $35,000 above and beyond the home price, and use the extra money for renovations. And thanks to a new rule, people buying in designated “Opportunity Zones” can borrow up to $50,000 — giving them an extra $15,000 in renovating power. But the new rule is first-come, first-served. Only the first 15,000 applicants nationwide will be able to use the higher FHA 203k loan limit. So if you’re interested in a bigger 203k loan, check your eligibility and move fast. [Source]

What are the benefits?

  • Monthly savings for your household budget
  • Increased comfort and improved indoor air quality comfort
  • Reduced carbon footprint of your home
  • Improved property value
  • Home mortgage interest deduction if you include improvements into your mortgage
  • Enjoy the thrill of producing electricity at your home with solar on-site

Are you interested in making those wished-for improvements happen before you move in rather than hoping to make them happen sometime down the road? Visit the Community Energy Services Financial Tools webpage or contact Andrew Grigsby, Energy Services Director, at to learn more.

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