Refinancing to Pay for Renovations? Consider the VA’s Energy Efficient Mortgage Program

Refinancing to Pay for Renovations? Consider the VA's Energy Efficient Mortgage ProgramMaking renovations that are energy efficient is not just a great way to reduce energy output, but it’s also an effective way of decreasing monthly utility costs. It serves as a one-time investment that will save money in the long run.

However, renovations are costly and not everybody has the extra finances required to make energy efficient changes. This is where the VA’s energy efficient mortgage (or EEM) program comes into play.

The program is designed to allow veterans to apply for a new mortgage or refinance an existing one with extra funds to renovate the home to be up to energy efficient standards.

The Three Tiers Under The VA’s Energy Efficient Mortgage Program

The VA has three tiers for the cost of renovations to be done under the EEM program. The lowest, and easiest to be accepted for, is for improvements that will total under $3,000. A list of costs or a contractor’s quote may be required in the application process.

The second tier is for renovations that will cost between $3,001 and $6,000. This will require the homeowner or homebuyer to get a Home Energy Rating System report to detail how efficient a home is currently and what can be done to decrease its HERS rating.

The final tier is for any improvements to the home that will cost over $6,000. This is the most difficult tier to receive acceptance for as both the Department of Veterans Affairs and the private lender will need to approve the renovations.

Types Of Improvements Under The EEM Program

The program covers a variety of renovations for the home. These include: new insulation to walls, floors and ceilings, solar powered heating and cooling systems, thermal doors, thermal windows and new caulking and weather stripping.

There are also items that will not be covered by the program, including new roofing, vinyl siding and air conditioning units.

Using The EEM Program To Receive A Larger Loan

Any veteran or currently active military member looking to buy a brand new home can still benefit greatly from the energy efficient mortgage program. If a new home undergoes a HERS report and passes as being energy efficient, this can be applied to a VA mortgage to receive as much as $6,000 extra on the loan.

Speak with your local mortgage professional to go into more detail on the intricacies of refinancing under the EEM program and whether or not your home will qualify.  If you need mortgage professional, give me a call – 602-320-4253.

2725 E Quiet Hollow Lane Phoenix, AZ 85024

$595,444
3 Beds
2 Baths
1,829 SqFt
Status Active
MLS # 6762893
Property Type Single Family Residence
Price Type --
Step into this stunning single-story home, where modern comfort meets the tranquility of Arizona's breathtaking landscape. Enjoy the peace of mind that comes with no neighbors behind you, allowing for unobstructed views of the serene desert vistas. As you enter, you'll be greeted by a spacious open floor plan, perfect for entertaining or cozy family gatherings. The abundant natural light enhances the inviting atmosphere, seamlessly connecting the living area to the heart of the home.The private backyard paradise, features both a beautiful pool and a covered patio. Whether you're lounging poolside or enjoying a quiet evening under the stars, this outdoor space is the perfect retreat.

972 E Mulberry Place -- Chandler, AZ 85286

$595,000
3 Beds
2 Baths
1,292 SqFt
Status Active
MLS # 6638746
Property Type Single Family Residence
Price Type --
Charming 3 bedroom and 2 bath home in new Chandler community. Hamilton Landing includes 36 single level homes each with their own front porch, private driveway for 2 vehicles and a single car garage and a small, pet friendly rear yard. Each home has 10' flat ceilings, white cabinets, luxury vinyl plank flooring in every room, two tone paint, beautiful wood trim around windows and doors and granite/quartz countertops in the kitchen and baths. The community includes a dog park with a covered ramada. These homes will be ready for occupancy between March and June of 2024. All photos are of a similar home completed in a previous community.

28409 N 451st Avenue Wickenburg, AZ 85390

$595,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6685093
Property Type Manufactured Home
Price Type --
Amazing off the grid Santa Fe style house located on 30 acres!! This beautiful 2016 manufactured home has great living spaces with tons of natural light, neutral colors, modern appliances, walk-in pantry and spacious rooms. Private well! The solar is owned outright and has batteries and a generator. The home also has propane gas for heating and cooking. Sitting on a hill it offers unparalleled views!! Also comes with covered corrals, tack room and storage area and entire property is fenced. This home is also listed with only 10 acres, at reduced price. See the semi-private remarks for details.

41225 N 253rd Avenue Morristown, AZ 85342

$595,000
3 Beds
2 Baths
1,456 SqFt
Status Active
MLS # 6772930
Property Type Manufactured Home
Price Type --
Discover the perfect blend of modern living and western charm in this 2021-built home, situated on a sprawling 3.9-acre horse property in Morristown, AZ. With 3 bedrooms and 2 bathrooms, this home offers an open, inviting floor plan and mountain views from every angle. Horse enthusiasts will love the six spacious horse pens, all equipped with power and water supply, along with a convenient round pen for training. Enjoy serene evenings on the covered patio, taking in the picturesque surroundings. This property not only provides a tranquil rural lifestyle but also the opportunity for future development, as it can be split. Whether you're looking to expand or create a custom space, the possibilities are endless. Great opportunity to own a move-in ready home on prime horse property just a short drive from the conveniences of town!

279 S Lyman Court Casa Grande, AZ 85194

$595,000
4 Beds
3 Baths
2,382 SqFt
Status Active
MLS # 6787541
Property Type Single Family Residence
Price Type --
''SMOKING HOT DEAL ON A STUNNING CUSTOM HOME W/ BRAND NEW HVAC, This Luxurious Custom 4 Bdrm/3 Bath/ 3 Car Garage Home is Situated on a Fully Block Fenced, Cul- De Sac, FLOOD IRRIGATED 1.25 Acre Corner Lot, In A Popular, Custom Home Only, Horse Friendly, Community w/ NO HOA & Just 6 Miles From the 1-10 Freeway & Shopping Mall! Boasting Gorgeous Mountain Views, Amazing Sunrises & Sunsets, As Well As A Gorgeous Desert Scaped Backyard w/ Extended Patio, & Upgraded Screen Covering That Shades The Perfect Play & Picnic Area (Accented w/ Turf) & Still Offering space for Livestock, Gardening, Tractors & Trailers, As It Also Has a Full Circular Gravel Drive w/ Room For a Workshop or Pool & PAID OFF SOLAR PANELS!

16985 W Poinsettia Drive Surprise, AZ 85388

$595,000
4 Beds
2.5 Baths
3,478 SqFt
Status Active
MLS # 6788592
Property Type Single Family Residence
Price Type --
MLS#6788592 Ready Now! The 45-RM5 is a spacious 2-story floor plan featuring 3,478 sq. ft. with 4 bedrooms, 2.5 bathrooms, a 3-car garage, flex room, loft, and game room. Designed for comfort and versatility, the open-concept layout connects the gathering room and kitchen with a dining area to the side, perfect for family living or entertaining. The main floor boasts a private owner's suite, while the upstairs includes secondary bedrooms, a shared bathroom, a laundry room, and flexible spaces like the loft and game room. These areas can be transformed into a kids' hangout, home office, gym, or anything else to suit your lifestyle. Structural options include: gourmet kitchen.

23851 W Tether Trail Surprise, AZ 85387

$595,000
4 Beds
3 Baths
2,432 SqFt
Status Active
MLS # 6741026
Property Type Manufactured Home
Price Type --
Over 4 Acres of Horse Property with NO HOA. This beautiful home features a spacious floor plan with 4 bedrooms + den, 3 baths, (jack n jill bed/bath), front room, living room (with built in mini bar), dining room, & large kitchen with a sky light, lots of cabinets and an island. The master bath has separate shower and jetted soaking garden tub and double sinks. The den has a dual entrance to front room and the master bedroom (great for a private office or workout room) Also a detached 3 car garage and RV gate. Bring your horses, toys & RV's. 3 sheds out back by the covered horse stalls that are staying with the property. Enjoy country living and amazing views. This sale consists of 2 lots each is aprx 2 acres. Each lot has a share in the shared well. Don't miss out on this one.

16846 W Molly Lane Surprise, AZ 85387

$595,000 - 6Br/5Ba -  for Sale in Sunrise Parcel B, Surprise
Open House
$595,000
6 Beds
5 Baths
3,029 SqFt
Status Active
MLS # 6772326
Property Type Single Family Residence
Price Type --
Rare opportunity in fast growing Surprise, Arizona - 2023 built Landsea home with **ATTACHED CASITA** complete with private entrance and exit perfect for renting, out of state guests, or multi generational living. Tired of waiting on long build times for new construction? This energy efficient, move in ready house is your solution! With over $75K in upgrades including chefs kitchen, luxury cabinetry, upgraded tile flooring, tons of Smart Home features and open concept layout, this will be the perfect place for gatherings and entertaining with plenty of space for everyone. When you combine all of this with an incredible location in the Sunrise community lined with parks, trails, and plenty of open space, this one has everything you need!

5435 W Michigan Avenue Glendale, AZ 85308

$595,000
4 Beds
3 Baths
2,325 SqFt
Status Active
MLS # 6787935
Property Type Single Family Residence
Price Type --
Welcome Home to Michigan Avenue in the sought after Miramonte 1 neighborhood. This gorgeous four-bedroom, three-bathroom, three car garage home is ready for its next family. Curb appeal starts the experience here, from the mature tree to the river rock ''river'', and the welcoming front patio area, just by pulling up you will begin to feel right at home. Head inside and you will walk into an impressive foyer area with a tiled mosaic inlay. From this spot you can head into the first of two living room spaces and formal dining room area. The vaulted ceiling space is bright and airy while natural lighting streams through the large windows. Off the dining room area, you will head into a combo eat-in kitchen and family room area. CONTINUED The kitchen boasts a plethora of kitchen cabinets that is perfect for storage, modern slate appliances, undermount sink, and a gas stove! The family room has a stoned fireplace that is perfect for cozy fires as the weather cools down. The first floor has a full bath with a bedroom as well. Head upstairs and you will step onto the landing with large built in cabinet system that will be perfect all your linens. Two similarly sized rooms, one with a walk-in closet, share a recently updated Jack and Jill bathroom with double sinks, updated modern lightening and classy gray/white cabinetry and marble countertop combination. Head into the master suite and prepare to relax. Enter through a double door entrance and you step into a vaulted area space that is filled with sunshine. The attached recently remodeled en suite was made with relaxation in mind. The massive walk-in shower includes a marble bench. The same modern cabinet and countertop scheme carries into the master en suite. The walk-in closet is also conveniently with in this space. Let's head outside under the covered patio to enjoy the low maintenance backyard space. Desert landscaping adds the perfect splash of color while ensuring that you will not be spending all weekend taking care of the yard. The patio leads right to the crystal blue pool and spa area. A mature tree provides shade to the back of the house and there is even an open area that would be perfect for a swing set or just for kids and pets to play in. This house had both AC's and the roof replaced four years ago. They have also remodeled the bathrooms, done updates on the pool, and gotten a new water heater. This house has been loved and well maintained.

706 E Washington Street Unit 105 Phoenix, AZ 85034

$595,000
2 Beds
2 Baths
1,876 SqFt
Status Active
MLS # 6686087
Property Type Townhouse
Price Type --
Are you a sports fan? Want to live closer to work, college or the airport in downtown Phoenix? This is your chance! This townhouse is in the heart of it all! Just a few minutes away from Chase Stadium sporting events, museums, fine dining, light rail and more. This home consists of 2 bedrooms, 2.5 baths and 2 car tandem garage. At 1,876 sf townhome has unique side yard for pets - rare find in the downtown area. The home has 20' ceilings, large loft and a balcony outside Master bedroom with exceptional views of the city. The kitchen boasts upgraded cabinets with beautiful hardware, stainless steel appliances and separate laundry room. THIS IS A RARE FIND!

6401 W Campbell Avenue Phoenix, AZ 85033

$595,000
8 Beds
2.5 Baths
2,460 SqFt
Status Active
MLS # 6743583
Property Type Single Family Residence
Price Type --
Take a look at this remodel home with new appliances, A/C, Windows, doors, bathrooms vanities and much more. This property consists of three separate living spaces. Two of 3 bedrooms and 1 bathroom and two bedrooms and 1 bathroom. Each unit has its own private entrance and separate back yard for each unit. This is good opportunity for someone that would like to generate some income that will pay for the mortgage and possible have some cash flow. Seller has two prospective tenants paying $2,200 a month for each unit.

13484 N 103rd Street Scottsdale, AZ 85260

$595,000
3 Beds
2 Baths
1,614 SqFt
Status Active
MLS # 6774781
Property Type Single Family Residence
Price Type --
Welcome to this inviting 3-bedroom, 2-bath home, featuring everything you need for relaxation and comfort. The cozy fireplace creates a warm, welcoming atmosphere inside, while the backyard is a true oasis. Enjoy the sparkling pool and spa, perfect for unwinding or entertaining, with a spacious covered patio providing shade for year-round outdoor living. Whether you are hosting gatherings or enjoying quiet evenings at home, this property offers the ideal blend of indoor comfort and outdoor enjoyment. Ready for you to move in and start making memories!