Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
A VA energy-efficient mortgage provides veterans and active military personnel with a way to access a cheaper loan for an energy-efficient home. These individuals can also use this type of mortgage in order to pay for renovations to an existing house to make it energy efficient. Here are the basics of the VA energy-efficient mortgage and why it is beneficial.
With the funds from this mortgage, veterans and active military personnel can purchase a home that is energy efficient and take advantage of lower utility bills.
This loan program is also going to provide veterans with an advantage over traditional energy-efficient mortgages. With this program, the individual does not have to come up with any down payment for the loan. With other energy-efficient mortgages, you may have to come up with at least 3 percent down.
Under this program, there are several improvements that would qualify. You could use the money for solar heating systems, caulking and weatherstripping, furnace efficiency modifications, water heater insulation, and many more projects.
- What To Do When Mortgages Default
- How to Get Approved for an FHA Loan despite Bad Credit
- Alternatives to Getting a 2nd Mortgage
- Short Selling a Rental Property
- FHA Eligibility with Bankruptcy and Foreclosure
- FHA Loans for a First-Time Home Buyer
- What Lenders Don't Reveal About Home Equity Loans
- 3 Warning Signs of Loan Modification Scams
- Should You Refinance? Make Sure the Timing is Right