Both the Federal Housing Administration (FHA) and mortgage investor Fannie Mae recently launched startups in the energy conservation arena.
FHA’s program, “PowerSaver,” allows eligible owners to borrow up to $25,000 at fixed rates between 5 and 7 percent for as long as 20 years to finance high-efficiency windows and doors, heating and ventilating systems, solar panels, geothermal systems, insulation and duct sealing, among other retrofits.
Fannie Mae’s “energy improvement” mortgage add-on folds the cost of the improvements, capped at up to 10 percent of the estimated market value of the home after the energy-efficiency enhancements, into the mortgage itself.
