Veterans Administration Energy Mortgage Program
Program Summary
Eligibility:
Purchase & Refinance
Improvement Financing:
100% of the energy improvements subject to the following limits:
(a) Up to $3,000 based solely on documented costs
(b) Up to $6,000 provided that the home energy rating projects the reduction in monthly energy savings exceed tje increase in the monthly mortgage payment
Down Payment:
No additional down payment on the energy improvements if the
improvements can create positive cash flow
Loan Limits:
The total loan amount after adding the costs of the energy
improvements can not exceed VA loan limit
Loan to Value:
Final LTV may exceed 100% appraised value if energy improvement
measures have positive cash flow
Eligible Improvements:
All improvements identified by home energy rating as having a combined
cost-effectiveness
Installation Time Limit
180 days
Necessary Documentation
Home energy rating; Contractor bids, Certificate of Reasonable Value
(VA Form 26-1842, Box 13); Loan Analysis Worksheet, (VA Form 26-6393,
Boxes 20 & 48); Report & Certification of Loan Disbursement (VA
Form 26-1820)
