June 2009


 

New World Home, a myEnergyLoan Platinum Preferred Builder, has just announced that in Atlanta they have attained LEED PLATINUM and EarthCraft House Gold certification levels on two homes – WITHOUT USING ANY RENEWABLE ENERGY SOURCES –  which is very difficult accomplishment and one that deserves your full attention.   See the press release below and also at www.myenergyloan.com under press releases.

Our Energy Efficient Mortgage program is second to none and we could not be more enamoured by our affiliation with New World Home.  I have personally walked through their homes and they are beautiful systems built homes.  Using the myEnergyLoan program, in conjunction with Energy Efficient Mortgages or without them, New World Home homes provide a huge financial advantage to its clients.  Energy efficiency remains the single most important element in the loan packages that our myEnergyLoan providers take into consideration when providing the myEnergyLoan Efficiency Credit.

Check these guys out and learn from them as they are clearly ahead of the curve.

ATLANTA, June 15, 2009 – New World Home has been awarded LEED® for Homes Platinum certification by the U.S. Green Building Council (USGBC) for outstanding achievement in green home building –  the first factory-built home in the state of Georgia to earn this designation. In addition, the New World Home project is the first home of any type in Georgia to earn the prestigious Platinum rating without the need for any costly renewable energy sources, such as solar panels, wind turbines or geothermal systems.

Click here for the full story:  

http://www.myenergyloan.com/images/leedplatinumrelease_061509.pdf

Energy Efficient Mortgages

Energy Efficient Mortgage

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Hunley Waters.  Where quality of life meets the water.

A charming community with deep water access, an eye on conservation and revitalizing a once scary neighborhood is proving to be a winning formula.   Chris Swan, owner of Cobalt Development and one of the more accomplished businessmen in the UK recently told me that when he visited Charleston, “I fell in love with it.”

That’s a common theme among visitors to the Charleston area and I would know, since the same thing happened to me when I first visited the town myself.  And two hearts have joined forces as myEnergyLoan’s first local provider has become the preferred lender at Chris Swan’s development – Hunley Waters.

I have met Alex Cook and Josh Watts, who run the marketing program over there, and i have to admit…i love them too.  Be sure to check out Hunley Waters when you shop for a place in Charleston.  You will be pleasantly surprised by their offerings and you’ll walk away with friends.

Know that the various energy efficient mortgages will bring you a financial advantage since energy efficient mortgages help finance green buildings more cost effectively.  In fact, energy efficient mortgages are available through Gary at Daniel Island Mortgage as he is the exclusive myEnergyLoan provider in the state.

— jeff cole —

 

 

Last week myEnergyLoan signed up our 6th local myEnergyLoan provider, bringing our current number of states with local myEnergyLoan providers to 13 – and that’s just since January 2009.  “Based on some very strategic marketing partnerships which we have only recently signed, we expect to have 500 licensed lenders and brokers within the next twelve to eighteen months,” says myEnergyLoan management.

READ FULL PRESS RELEASE HERE:

http://www.prlog.org/10255439-better-energy-efficient-mortgage-myenergyloans-successful-local-market-launch.html 

The myEnergyLoan program continues to be the most economically viable Energy Efficient Mortgage program in the country; and it’s all about the local market! 

myEnergyLoan knits together the national green lending community via local market licensing & green loan certification of its unique green loan package. 

nited States Department of Energy has a scale similar to the HERS Index.  Join the Builder’s Challenge and build to 70 or lower on your home’s efficiency and receive 1/3 point or more as a myEnergyLoan Efficiency Credit.

See our website at www.myenergyloan.com and learn more about our Energy Efficient Mortgage Program.  We are obsessed with green real estate finance and we can help you make it through the maze of misinformation and bring your green project financing all the way to the closing table…and back again.  Find out how by calling me today.

404-771-2106.

Jeff Cole

www.myenergyloan.com

energy efficient mortgage

green loans

Old Uncle Fester used to say that a bird in the hand is better than two in the bush.  He used to say a lot of things, but so few of them made much sense at the time.

Dear Old Uncle Fester.  He used to say that you should buy land, because they aren’t making it anymore.

Wise Old Uncle Fester.  He used to say that you should never run with scissors or spit into a fan.

Why, oh why, didn’t we pay more attention to our beloved Uncle Fester?   May he rest in peace…with all the coal burning power plants!

Get your EEM (Energy Efficient Mortgage) at www.myenergyloan.com

MARKET ALERT

There are signs of serious artificial pricing in the capital markets.

There are now 4 large US banks.

These banks are taking huge subsidies and cutting their prices so mortgage brokers cannot compete.

Fewer options means higher prices and more bank undermining of the US Economy.

Artificial pricing means that you, the consumer, are going to have fewer and fewer loan options in the future and the trend of a resistance to lending will continue in order to force you into the capital markets.  That’s exactly what is happening right now and it is slowing the adoption of energy efficient mortgage products and other green financial tools. 

Essentially, when the 4 large remaining banks can apply government subsidies to buy down rates on high interest loans you would be a fool not select them for your mortgage.  This means they are all receiving a lot more business, lending fewer dollars on more loans and maximizing the number of transactions in order to earn fees.  They will soon hijack energy efficient mortgage lending and greenwash into thinking it’s good for you.

The capital markets are being set up for exploit and we strongly recommend tort reform and tighter regulatory measures. 

Most mortgage brokers across the country are experiencing huge negative impacts that are driving them out of business at an astonishing rate.  Mortgage broker pricing has eroded to such a degree that many mortgage brokers cannot keep their doors open.  This trend spans most not retail banking streams, private equity funds, insurance and bond funds.  They are NOT showing robust signs of recovery.

As I have often reported and discussed it takes a long time for banks to determine how best to part you from your money.  Those days are approaching where they are figuring it and hatching plans to essentially canabalize the market.

MARKET ALERT WRITTEN BY A FRIEND

The effect is that the consumer loses and the financial markets become more centralized.  Other than being very polarizing by loading the assets in a small group of companies it has the ability to cause extreme trauma to entire economy because these banks are literally in control.  This co-opts our core values and flys in the face of our necessary rights as Americans.

This, my friends, is a very bad idea.  It is especially bad because we are literally doing it to ourselves since we are paying for the subsidies.

Avesta Pearl Place

Featured Green Building for today’s post.

Avesta Pearl Place
Portland, ME 

Following is an excerpt from AHA who sometimes get it right and sometimes get it wrong…you be the judge.

How Could I Benefit From Borrowing Against My Equity?

 

http://www.ahahome.com/aha_side_42_pub.cfm

 Thanks to the fact that Uncle Sam encourages home ownership – and makes his point at tax time – there are very real benefits available to those who use their home equity when borrowing money.

There are two major advantages in using your ability to get a home equity loan: tax deductibility of interest and a lower interest rate.

Here’s how they work:

Better Rates and Debt Consolidation

  • Many homeowners consistently carry thousands of dollars a month in high-interest credit card debt, without putting to use one of the most effective financial aids at their disposal�a home equity loan for debt consolidation.
  • The average interest rate you’ll pay for a home equity loan can be 7% to 10% less than the rates you’re paying for your credit cards, or other personal loans. Why pay the credit card companies those exorbitant rates when you have an alternative at your fingertips? You’re living in it!
  • Plus, the interest on a home equity loan is tax deductible, generally up to the first $100,000 borrowed.
  • Credit card or other personal loan interest, on the other hand, is generally NOT tax deductible.
  • So, if you’re carrying a lot of high-rate credit card or other debt, it makes good financial sense to pay them off with a home equity loan; get a lower interest rate on the consolidated debt; AND, be able to deduct the interest from your federal taxes.

Home Improvements for Resale Value and Tax Relief

  • Another example of a fiscally smart use of home equity loan funds is for making home improvements that increase the value of your home.
  • Reinvesting in what may be your single biggest asset is one of the most risk-free and sound forms of investment you can make. Putting your own equity to work to make it possible is even smarter.
  • To maximize re-sale value, consider upgrades that improve energy efficiency, reduce maintenance costs, modernize kitchens or baths, or increase curb appeal.
  • Making upgrades that qualify as ‘capital improvements’ will also improve your ‘basis’ and reduce your capital gains taxes when you sell.

No Restrictions, But . . .

  • Technically, there are no restrictions on how you choose to spend home equity loan funds, but it’s most wise to invest the borrowed money into something that enhances your financial situation, or creates an asset.

Taking advantage of the embedded power of your home equity obviously can improve your financial picture, as well as provide re-investment opportunities that lead to significant tax relief when you sell.

There two fundamental types of home equity loans – which you’ll want to explore next time we discuss this.

www.myenergyloan.om

energy efficient mortgage

 

 

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