FHA’s New “PowerSaver” Program

FHA’s New “PowerSaver” Program

Homeowners are increasingly interested in making their homes more energy efficient, according to industry forecasts. But options are limited for financing improvements, especially for the many homeowners who are unable to take out a home equity loan or access an affordable consumer loan. PowerSaver will give more homeowners the ability to live in greener homes.

PowerSaver will enable homeowners to borrow up to $25,000 for terms as long as 20 years to make energy improvements of their choice, based on a list of proven measures developed by FHA and the U.S. Department of Energy (DOE). Examples of eligible improvements include insulation, duct sealing, energy efficient doors and windows, energy efficient HVAC systems and water heaters, solar panels and geothermal systems. FHA encourages consumers to utilize an energy audit to determine the most cost effective improvements for their home.

Go to FHA’s web site for more information.

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