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.

966 E Mulberry Place -- Chandler, AZ 85286

$592,000
3 Beds
2 Baths
1,273 SqFt
Status Active
MLS # 6638729
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.

10018 W Verde Lane Avondale, AZ 85392

$591,900
3 Beds
3 Baths
2,485 SqFt
Status Active
MLS # 6752684
Property Type Single Family Residence
Price Type --
***TO BE BUILT*** Find your dream home at Acclaim-a Fulton homes master planned community! The Lincoln Beach is an incredible single story home with a spacious 40' RV plus 2 car tandem garage. Many included features such as gourmet kitchen, 10' ceilings, 8' doors, paver driveways, ceiling fans, 2'' faux wood blinds and much more. Customize with a 4th bedroom, a spa shower, additional electrical and much more. Buyer can select interior finishes at our incredible 13.000 sq. ft design center. Fulton homes are ''Zero Energy Ready'' and include tankless water heaters, spray foam insulation, electric vehicle ready and pre plumb for solar installation. Residents enjoy a community pool, basketball courts, pickle ball courts, sand volleyball, bocce ball, greenbelts and children's playgrounds.

4106 W Eli Drive San Tan Valley, AZ 85144

$590,005
5 Beds
4 Baths
2,762 SqFt
Status Active
MLS # 6748793
Property Type Single Family Residence
Price Type --
The Pacific plan offers space for the entire family. This home features 4 bedrooms upstairs with a guest bedroom downstairs. A perfect retreat for long-term guests. The spacious kitchen offers ample counter space and opens to the great room for ideal entertaining. Custom interior finishes include: matte granite countertops, shaker cabinets, custom kitchen backsplash, and natural wood-look tile flooring in all the right places.

1365 W Laguna Azul Avenue Mesa, AZ 85202

$590,000
3 Beds
2.5 Baths
2,074 SqFt
Status Active
MLS # 6765770
Property Type Single Family Residence
Price Type --
Have you been looking for your forever home in Dobson Ranch with over a 10,000 sq ft lot? If so look no more, this home is completely remodeled from top to bottom. Recent upgrades include renovated bathrooms, dual pane windows, massive security gate, electrical service panels in the garage, newly installed Ho2 system, sliders, drop ceiling removed to give you actual space in the living areas, new kitchen with custom cabinets, stainless appliances and high grade quartz counters. The master is oversized with own access to courtyard. Come check out all this home has to offer. This home is located in the prestigious Dobson Ranch Subdivision with community pool, many activities, close to freeway access, shops, restaurants and so much more.

1047 W Elna Rae Street Tempe, AZ 85281

$590,000
5 Beds
3 Baths
2,480 SqFt
Status Active
MLS # 6769188
Property Type Single Family Residence
Price Type --
NO HOA!! Remodeled 5 bd/3 bath located in the heart of Tempe features open and bright layout with new flooring throughout, new granite countertops, new light fixtures, and new paint. Located near ASU, Tempe Beach Park, the Phoenix Zoo, Arizona Botanical Gardens, Sky Harbor International Airport - and easy to get to!

7243 E Nopal Avenue Mesa, AZ 85209

$590,000
4 Beds
3 Baths
2,352 SqFt
Status Active
MLS # 6775119
Property Type Single Family Residence
Price Type --
New roof with a 20 yr warranty on this 4 bed / 3 bath with den spacious home. Vaulted ceilings in front room, new flooring in the den and all upstairs. The Kitchen has an eat-in area, a breakfast bar with a new kitchen sink, new faucet, new disposal, new plumbing, new appliances with a gas range, new ceiling LED kitchen lights and the cabinets have new sliders. Laundry room has new built-ins for extra storage. New windows with transferable warranty in the master suite & master bathroom. The other three spacious bedrooms have new closet built-ins. Fully remodeled bathrooms & new tile floors. The pool has been resurfaced, new pump filter, new back patio cover, and misters. New court yard & front landscape are completely remodeled with new turf, plants, pavers a new side gate and RV gate!

9112 S 15th Way Phoenix, AZ 85042

$590,000
3 Beds
2 Baths
2,214 SqFt
Status Active
MLS # 6780934
Property Type Single Family Residence
Price Type --
What a RARE find! Located in the gated Montana Vista Estates, this beautiful 3-bedroom home will leave you in awe. Its charm starts with a manicured landscape & a 3-car garage w/paver driveway. Fabulous interior features abundant natural light, archways, neutral paint, and stone tile flooring w/carpet in bedrooms. You'll LOVE the separate living room & a formal dining room w/wood-look floors! The gourmet kitchen boasts granite counters, recessed lighting, a pantry, wood cabinetry, a large island, a breakfast bar, and SS appliances w/cooktop gas. Main bedroom has an ensuite with dual sinks, separate tub/shower, & a walk-in closet. The spacious back & side yards offer a fireplace and two covered patios. This gem also sits on a corner lot by the Community gate, with mountain views! Just WOW!

17899 W Mountain Sky Avenue Goodyear, AZ 85338

$590,000
3 Beds
2 Baths
2,139 SqFt
Status Active
MLS # 6786759
Property Type Single Family Residence
Price Type --
This 2023 NEW BUILD, Barely lived in 2,138 sqft, 3 Bed/2 Bath Maestro in the gated Cantamia community includes a spacious TRUE huge 3-car extended-epoxied garage, coveted North/South exposure, and a home office which crescendo into a stylish living space. Upgraded kitchen with quartz countertops, cabinetry, and top of the line GE Café appliances accent this stylish retreat. The luxurious primary ensuite includes dual vanities, ample sized walk in shower, and a custom walk-in closet. The orchestrated chicness continues as you step from your open-concept modern home through the 12' upgraded slider to a backyard professionally curated with artificial turf and paver patios to enjoy the outdoors. This barely lived in beauty is waiting for you .Come See it TODAY!

17393 W Lincoln Street Goodyear, AZ 85338

$590,000 - 3Br/3Ba -  for Sale in Canyon Trails Unit 4 West Parcel D1, Goodyear
New
$590,000
3 Beds
2.5 Baths
2,517 SqFt
Status Active
MLS # 6789371
Property Type Single Family Residence
Price Type --
Experience timeless elegance in this rare, updated, immaculate and move in ready Spanish-inspired Estate Series home with 3 bedrooms, 2.5 baths and a den. Designed to captivate with arched windows and a gated front courtyard with views of the park and distant mountains. Step inside to the light-filled great room adorned with sweeping arches and expansive windows offering stunning views of the entertainer's dream backyard. The oasis-like outdoor retreat features an extended patio, a built-in BBQ island, a green lawn, and a shimmering pool with a tranquil waterfall. The heart of the home is the beautifully modernized oversized gourmet chef's kitchen. High-end stainless steel appliances, a Bosch cooktop and dual ovens pair seamlessly with quartz countertops and an oversized center island. Beautiful rich cabinets offer tons of storage. The adjacent large dining area with additional cabinet storage and a built-in bar and desk make it perfect for gatherings both large and small. The spacious, split master suite is a serene sanctuary with its own private patio exit. Its spa-inspired bathroom features custom tile work, a soaking tub, a separate shower, dual granite vanities, and a large walk-in closet. On the opposite side of the home, two large guest bedrooms and a versatile 2nd living room/den/bonus room with patio access offer flexibility for work, play, or relaxation. The large laundry room features granite counters and tons of additional storage. You'll love the side by side 3-car garage. The single car garage is oversized with an additional work space and work bench. -Energy efficiency upgrades: 2024 gas hot water heater, 2021 17-seer AC + Trane furnace, 2016 secondary AC, LED can lighting, R-38 Ceiling & R-15 Wall insulation, Radiant barrier roof decking, Energy Star appliances -Kitchen updated 2020: Quartz countertops, Bosch Induction Cooktop, KitchenAid convection microwave, dual-ovens, dishwasher, oversized stainless kitchen sink, oil-rubbed bronze chandelier, newer kitchen faucet & R/O faucet, subway tile backsplash, breakfast bar reduced to counter-height. -Builder upgrades: Venetian bronze door hardware and oil-rubbed bronze bath fixtures, Bordeaux kitchen and laundry room cabinets with 42 uppers, Granite at laundry room & master bath, 20x20 upgraded tile laid diagonal throughout except for bedrooms, Master bath tub & shower tile surrounds with glass, oil-rubbed bronze shower enclosure, Reverse osmosis. -Solar tubes 2020: 3 -2008 pebble pool finish with waterfall & full backyard landscaping/hardscaping, 2021 Pentair Salt Cell variable-speed pump with Easy Touch Panel, 2020 Refinish all pool and patio decking, Gutters added 2019, 2009 stacked-stone BBQ island with stone top -Water softener 2019 AND..... Oasis at Canyon Trails community offers mature tree walking paths, lush green parks with playgrounds & sport courts, workout facility and a resort-like community pool with ramadas/cabanas. All within close proximity to great shopping, SuperTarget, Fry's Marketplace, Estrella Falls Marketplace), numerous restaurants (Oregano's, Texas Roadhouse, Olive Garden, PF Chang's and many more), Harkins Theatre, Estrella Falls 16 and great freeway access to I-10 and 303.

16048 W Mercer Lane Surprise, AZ 85379

$590,000
5 Beds
3 Baths
3,451 SqFt
Status Active
MLS # 6715329
Property Type Single Family Residence
Price Type --
Check out the Great Curb Appeal at this Nice 5 bedroom, 3 bath, 3451 sq. ft., 3 car garage home in Greer Ranch South, Surprise, AZ. New carpeting and interior paint. Low maintenance front yard leads you to the front door. Vaulted ceilings and large rooms greet your entry to this home along with a spacious open eat-in kitchen granite counter tops, stainless steel appliances and ample cabinet space. Looking for a formal dining space? Found! Relax and hide in the Great Room downstairs or the spacious upstairs Media Room. Large Primary Suite with a large walk in closet, private bath with separate shower and tub. The backyard includes a covered patio and a pool to keep you cool. This could be your next ''New To You'' home.

19233 W Coolidge Street Litchfield Park, AZ 85340

$590,000
4 Beds
3 Baths
2,649 SqFt
Status Active
MLS # 6715943
Property Type Single Family Residence
Price Type --
**Welcome to Your New Home!** This stunning 4-bedroom, 3-bathroom residence offers the perfect blend of luxury and functionality, featuring a full apartment casita with its own private entrance, ideal for guests, extended family or rental income. Highlights include: - **Spacious Main House:** Open floor plan with a bright and airy living space, modern kitchen, and elegant finishes throughout. - **Private Apartment Casita:** Self-contained unit with a living area, kitchen, bedroom, and bathroom, perfect for extended family or rental potential. - **3-Car Garage:** Ample space for vehicles, storage, and hobbies. - **Completed Backyard:** Beautifully landscaped for relaxation and entertainment. - **Installed Solar Panels:** Enjoy significant savings on your energy bills and contribute to a greener planet. Located close to top-rated schools, shopping, and recreational facilities, this home offers convenience and comfort in one package. Don't miss out on this rare find! Contact us today to schedule a viewing and make this exceptional property yours.

9710 W Campana Drive Sun City, AZ 85351

$590,000
3 Beds
3 Baths
1,832 SqFt
Status Active
MLS # 6717251
Property Type Single Family Residence
Price Type --
Presenting a well maintained 3-bedroom residence complemented by an expansive Arizona Room, this property boasts refined additions and enhancements. Nestled in a Cul De Sac, The residence encompasses a total area of 1832 square feet plus An expansive addition completed in 2018 supplements the property with an additional 1169 square feet, offering versatile parking spaces. The property is thoughtfully outfitted with triple pane windows, ensuring superior insulation against both sound and heat. Noteworthy recent upgrades include a new AC unit installed in 2021, along with a water heater of the same year. The oven and stove top were replaced in 2019. Maintenance and improvements extend to the infrastructure, with sewer lines and clean outs updated during the 2017 addition. The exterior features a freshly painted back wall, benefiting from a five-year warranty, with two years remaining. . The roof was replaced in 2018, with insurance coverage through AAA. To accommodate discerning buyers, seller financing terms may be considered.