When K.C. Boyce and Michelle Frost decided to update their vintage home they selected Renewal Construction Inc. as their contractor and myEnergyLoan as their finance partner. At closing, they received a “green” loan credit of more than $3,300.
Renewal Construction provided a renovation plan with many green features, including solar and geo-thermal systems. The project was chosen to be featured on the Discovery Channel’s new Planet Green, a cable television channel dedicated to the shift toward green building practices in construction and renovation.
Yet even though the borrowers exceeded requirements set forth by the lender, Countrywide, the loan process did not go smoothly. The reason? Their loan was one of the last ones Countrywide funded before closing its construction lending division because of the tightening credit markets. myEnergyLoan fought hard to keep the loan process moving and close the deal – and we did!
As credit markets continue to tighten and the energy-efficient-mortgage landscape deteriorates as a result, think of myEnergyLoan as a light in the dark for your renovation plans. Even with the current market uncertainties, we are adept at getting green loans processed and paying thousands of dollars in discounts earned by clients who select us as their finance partner.
Call Jeff Cole, 404-771-2106, with questions or comments on financing your green project or to get in touch with any of the Boyce-Frost project partners.
Jeffrey L. Cole
Principal, myEnergyLoan
404-771-2106 cell
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HomeFirst Mortgage Corp. and myEnergyLoan
The myEnergyLoan program is ideal for builders and buyers of energy-efficient and location-efficient properties. HomeFirst Mortgage Corp. (HFM), the primary provider of the myEnergyLoan green builder discount program, provides clients with great green property finance incentives.
Developers, builders and designers can benefit by recommending myEnergyLoans to their clients who can easily complete their projects through our network of home energy raters, green builders and Ecobrokers.
LEED Certified, EnergyStar Certified, and all national green-building program properties qualify for myEnergyLoans. Borrowers must meet credit criteria and loan guidelines, as well as other requirements if necessary.
For a list of states where myEnergyLoan is available go to www.homefirstmortgage.com.
