FAQ

From the time we receive the first call inquiring about the EEM, we can have all the documents into the mortgage loan file in five business days.

No work is ever done before title conveys to the buyer. The replacement of “health & safety” issues that were conditioned in the appraisal will be addressed in the EEM documentation. The underwriter will, typically, waive the condition so the transaction can close.

They may. The efficiency, to qualify for tax credits, must exceed the standard and, as a result, are more expensive. As long as there is room in the budget to include the higher efficiency improvements, the buyer may do so. The client may also elect to perform more upgrades using existing energy standards, rather than fewer upgrades using higher energy standard. Everyone should always consult a tax professional before making any decision that has tax consequences.

The HERS energy rating fee ranges from $400 – $425. There are no other fees involved.

No. Federal Energy Services, Inc. is a licensed general contractor. We have a panel of sub-contractors in each discipline that, over the years, we have spent considerable time and resources vetting. As the prime contractor we stand behind the quality and craftsmanship of our sub-contractors.

Since managing our first “energy option” loan in 1982 – long before it was known as an Energy Efficient Mortgage – Federal Energy Services has facilitated over 8,000 EEMs. In 1996 Fes was invited by Countrywide Home Loans to consult on the development of their underwriting guidelines. Today most California wholesale lenders base their documentation requirements on our model.