As the demand for solar power and energy efficiency rises, Fannie Mae announced a new mortgage option for financing these options. The loan will give borrowers the ability to complete clean energy upgrades up to 15% the appraised value of the home.
HousingWire staffer Kelsey Ramirez reports that Fannie Mae introduced HomeStyle Energy mortgage in order for borrowers to create energy and water efficiency improvements to their home, noting that the mortgage will be available for use for 1-4 unit properties, and is available through all Fannie lenders.
“HomeStyle Energy mortgage will be particularly helpful to borrowers who want to pay off debt for existing energy improvements,” Perez said. “It will also benefit homeowners who want to make their home more comfortable and efficient.”
Read more about the program on HousingWire >>