The current phase of the Phoenix Green Building program started on July 1, 2011. The program makes it easier for businesses and homeowners to get their projects certified as environmentally sustainable without having to go through multiple agencies such as LEED and time consuming processes.

In order to get certified, the building must meet several standards on the City’s checklist. The City will also award bronze, silver, gold or emerald standards to projects depending on their degree of environmentally friendliness. Projects will be able to get additional points by adding reflective roofs to reduce heat and recycling their building materials during construction. Money is also being given as incentives to homeowners and builders who want to go green. Right now, about $50,000 is left in grant money out of the original $500,000 grant. The City has also waived permit fees on more than 22,000 permits for current participants in the incentive program. Incentives include installing or replacing windows and water heaters with more energy efficient ones and installing new HVAC systems. Pulte’s Fireside at Desert Ridge housing community is a current participant in the City’s green incentives program.

EEM or EIM (Energy Efficient Mortgages)

EEM’s can be used by any Arizona homeowners who want to finance energy efficiency and renewal energy technologies to their new or current existing home. The value of the home is adjusted to reflect the home’s energy savings. An Arizona EIM is for borrowers who want to obtain one Arizona mortgage for both the purchase of a home and for the costs of any energy efficiency home improvements that they wish to make to the home. The home must have an energy rater rate the home before financing will be approved. This gives the lender information about the monthly energy savings and energy savings value to the home.

Phoenix home buyers want energy saving homes. They are in higher demand because of the long term energy savings that homeowners benefit by. Green homes are cooler in the hot Arizona summers and homeowners save money on their heating bills during the cold Arizona winter nights.

If you have any questions about this or if you have any questions you’d like us to answer on our podcast, you can email your questions to team@azmortgagebrothers.com or give us a call at (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.

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Thanks for listening and reading the Mortgage Brothers Show. Let us know if you have any questions you’d like us to answer on this podcast. You can email your questions to Tom@AZMortgageBrothers.com or Eddie@AZMortgageBrothers.com.

Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.

Signature Home Loans LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Signature Home Loans NMLS 1007154, NMLS #210917 and 1618695. Equal housing lender.

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