Green Financing Program

On Wednesday, March 23rd, we had the privilege of attending an event that Fidelity Phoenix co-sponsored for Guaranteed Rate Mortgage (GRM). The event was held at Boojum Tree’s Hidden Gardens, a beautiful venue and the perfect setting for a discussion on Green Financing.

Green Financing Program as discussed at this event, in a nutshell:

· 100% of the cost of an energy pack above and beyond what the buyer is paying for the home

· No re-appraisal needed

· Maricopa County- 163K or higher up to 9300 and 163000 or below is 5% of property value

· Based on appraised value

· Single Family, New Construction, Current Construction, units 1-4, and duplexes all qualify for this FHA Financing

· The Green Financing Program through GRM is for FHA loans only. Considering 24% of the National Market Share is FHA’s, this is a no brainer.

· The goal of this program is to achieve national energy goals and create affordable housing

· Tax breaks at the Federal, State, Local, Utilities and Energy Star and all apply!


Other highlights and talking points on the program:

· Great tool for REO Listing Agents-make the upgrades and get your FHA loan

· Use yard signs that show energy assistance savings

· Here is how it would look:
1. Yard Sign

2. Call off of Sign

3. Lender/Energy Efficient Mortgage Chat

4. Lender Refers client to a Vendor to discuss Tax Credits and a bid estimate

5. HEERS (Home Energy Rating System) Inspector takes bid, reviews loan type, sales price and bid price and gives a yes or no

6. Lender Takes Back Loan

7. Sends to Fidelity National Title

8. Lender holds money to pay for upgrades and gets the job done quickly

9. Inspector Certifies

10. Vendor gets paid

11. Home Closes

12. Homeowner Saves Money!

For more information, please send an email to info-fntarizona@fnf.com