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Energy Efficient Mortgage

TPI is the only inspection company that can offer EEMs and home inspections in one inspection in the Nashville area. This program is also known as the EEM Program. What does an EEM do? It allows a borrower to finance 100% of the expense of a cost effective "energy package" into their mortgage. For example: we all know there are thousands of home buyers out there that have fallen in love with a home only to find out that the HVAC system has failed. Most of the time these home buyers just simply walk away if they can't negotiate a new system into the deal. With an EEM there is no need to negotiate. The EEM program recognizes that the improved efficiency of a house can increase its affordability by reducing the operating cost. ***The great part about the EEM is the buyer does not need to qualify for the additional financing or provide an additional down payment!*** EEM's cover the cost of energy saving equipment, active and passive solar technologies, and weatherization. The buyer must have the home inspected by a RESNET auditor, who will perform test, measure, and rate the home's current efficiency. The Rater has to determine by calculations what improvements will qualify. A cost effective energy package is one that the cost of the improvements, including maintenance, is less than the present value of the energy saved over the useful life of those improvements. The cost of the inspections will be added into the mortgage so no out of pocket cost will hit the buyer.

We are a consulting company only. TPI does not install any energy related products. We only consult with our clients about what should be done and how, we also return to all EEM houses to inspect all completed work before we release the home. BUYERS BEWARE!!! Please beware of companies that offer EEM inspections as well as install energy efficient products or services. Refer to section HUD 4155.1 6.D.2.h: It states the energy Rater must be an independent entity and can not be directly or indirectly related to the contractor selected by the borrower to install the energy efficient improvements. The reason this is set in place is to ensure that the borrower gets the most efficiency out of the home possible. There is great concern that if the inspection company also installs the improvements; then they will only recommend the improvements they offer, which may not be the best improvements for the borrower. Plus it completely eliminates the aspect that the work must be inspected at completion by an independent entity!

This program is also available for current homeowners but it is called an EIM Energy Improvement Mortgage. It allows home owners to refinance under this program, and is a fantastic way for home owners to reduce their monthly utility bills, and upgrade their home at the same time.