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Low Cost Energy Improvement Loans Announced by HUD
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You're Now Reading:
Low Cost Energy Improvement Loans Announced by HUD
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Low Cost Energy Improvement Loans Announced by HUD
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April 25, 2011 (Shirley Allen)
mortgage-insulation-image
The Department of Housing and Urban Development (HUD) has teamed up with eighteen national, regional and local lenders to launch a new two year pilot program to provide low cost loans to homeowners for make energy-saving improvements to their preperties in certain parts of the country.

The new “PowerSaver” loans will be backed by the Federal Housing Administration (FHA) and provide homeowners with up to $25,000 to make energy-efficient improvements ranging from installation of insulation, duct sealing, replacement doors and windows, HVAC systems, water heaters, solar panels, and geothermal systems.

“We believe the market is right for a low-cost financing option for families who want energy-saving technologies in their home,” said HUD Secretary Shaun Donovan. “PowerSaver hits on all cylinders by helping credit-worthy homeowners finance these upgrades, cut their energy bills and boost the local job market in the process. While FHA and these lenders are jumpstarting this pilot, we hope its success will lead to a growing private sector interest in making these types of loans.”

The program is designed to assist approximately 30,000 homeowners, with the FHA insuring up to 90 percent of the loan amount. Borrowers must have good credit, manageable debt and at least some equity in their homes (maximum 100 percent loan-to-value).

HUD projects that more than 3,000 jobs will be created through the program with an even greater impact if the market demand for the loan program increases over time.

HUD developed PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009 by Vice President Biden’s Middle Class Task Force to develop federal actions that would expand green job opportunities in the United States and boost energy savings by improving home energy efficiency. The announcement is part of an interagency effort including 11 departments and agencies and six White House offices.

The eighteen lenders approved for PowerSaver loans are:

Admirals Bank
AFC First Financial Corporation
Bank of Colorado
City of Boise, Idaho
Energy Finance Solutions
Enterprise Cascadia
HomeStreet Bank
Neighbor’s Financial Corporation
Paramount Equity Mortgage, Inc.
Quicken Loans
SOFCU Community Credit Union
Stonegate Mortgage Corporation
Sun West Mortgage Company, Inc.
The Bank at Broadmoor
University of Virginia Community Credit Union, Inc.
Viewtech Financial Services, Inc.
WinTrust Mortgage
W. J. Bradley Mortgage Capital Corporation

Tags: HUD, FHA, PowerSaver, energy efficient, low cost loans, energy-saving improvements, approved lenders

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Tips
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Tips
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Calculator
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Rates

April 25, 2011 (Shirley Allen)
mortgage-insulation-image
The Department of Housing and Urban Development (HUD) has teamed up with eighteen national, regional and local lenders to launch a new two year pilot program to provide low cost loans to homeowners for make energy-saving improvements to their preperties in certain parts of the country.

The new “PowerSaver” loans will be backed by the Federal Housing Administration (FHA) and provide homeowners with up to $25,000 to make energy-efficient improvements ranging from installation of insulation, duct sealing, replacement doors and windows, HVAC systems, water heaters, solar panels, and geothermal systems.

“We believe the market is right for a low-cost financing option for families who want energy-saving technologies in their home,” said HUD Secretary Shaun Donovan. “PowerSaver hits on all cylinders by helping credit-worthy homeowners finance these upgrades, cut their energy bills and boost the local job market in the process. While FHA and these lenders are jumpstarting this pilot, we hope its success will lead to a growing private sector interest in making these types of loans.”

The program is designed to assist approximately 30,000 homeowners, with the FHA insuring up to 90 percent of the loan amount. Borrowers must have good credit, manageable debt and at least some equity in their homes (maximum 100 percent loan-to-value).

HUD projects that more than 3,000 jobs will be created through the program with an even greater impact if the market demand for the loan program increases over time.

HUD developed PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009 by Vice President Biden’s Middle Class Task Force to develop federal actions that would expand green job opportunities in the United States and boost energy savings by improving home energy efficiency. The announcement is part of an interagency effort including 11 departments and agencies and six White House offices.

The eighteen lenders approved for PowerSaver loans are:

Admirals Bank
AFC First Financial Corporation
Bank of Colorado
City of Boise, Idaho
Energy Finance Solutions
Enterprise Cascadia
HomeStreet Bank
Neighbor’s Financial Corporation
Paramount Equity Mortgage, Inc.
Quicken Loans
SOFCU Community Credit Union
Stonegate Mortgage Corporation
Sun West Mortgage Company, Inc.
The Bank at Broadmoor
University of Virginia Community Credit Union, Inc.
Viewtech Financial Services, Inc.
WinTrust Mortgage
W. J. Bradley Mortgage Capital Corporation

Tags: HUD, FHA, PowerSaver, energy efficient, low cost loans, energy-saving improvements, approved lenders

Source:
HUD

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

April 25, 2011 (Shirley Allen)
mortgage-insulation-image
The Department of Housing and Urban Development (HUD) has teamed up with eighteen national, regional and local lenders to launch a new two year pilot program to provide low cost loans to homeowners for make energy-saving improvements to their preperties in certain parts of the country.

The new “PowerSaver” loans will be backed by the Federal Housing Administration (FHA) and provide homeowners with up to $25,000 to make energy-efficient improvements ranging from installation of insulation, duct sealing, replacement doors and windows, HVAC systems, water heaters, solar panels, and geothermal systems.

“We believe the market is right for a low-cost financing option for families who want energy-saving technologies in their home,” said HUD Secretary Shaun Donovan. “PowerSaver hits on all cylinders by helping credit-worthy homeowners finance these upgrades, cut their energy bills and boost the local job market in the process. While FHA and these lenders are jumpstarting this pilot, we hope its success will lead to a growing private sector interest in making these types of loans.”

The program is designed to assist approximately 30,000 homeowners, with the FHA insuring up to 90 percent of the loan amount. Borrowers must have good credit, manageable debt and at least some equity in their homes (maximum 100 percent loan-to-value).

HUD projects that more than 3,000 jobs will be created through the program with an even greater impact if the market demand for the loan program increases over time.

HUD developed PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009 by Vice President Biden’s Middle Class Task Force to develop federal actions that would expand green job opportunities in the United States and boost energy savings by improving home energy efficiency. The announcement is part of an interagency effort including 11 departments and agencies and six White House offices.

The eighteen lenders approved for PowerSaver loans are:

Admirals Bank
AFC First Financial Corporation
Bank of Colorado
City of Boise, Idaho
Energy Finance Solutions
Enterprise Cascadia
HomeStreet Bank
Neighbor’s Financial Corporation
Paramount Equity Mortgage, Inc.
Quicken Loans
SOFCU Community Credit Union
Stonegate Mortgage Corporation
Sun West Mortgage Company, Inc.
The Bank at Broadmoor
University of Virginia Community Credit Union, Inc.
Viewtech Financial Services, Inc.
WinTrust Mortgage
W. J. Bradley Mortgage Capital Corporation

Tags: HUD, FHA, PowerSaver, energy efficient, low cost loans, energy-saving improvements, approved lenders

Source:
HUD

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.