EEM Mortgages any mortgage loan originators that have lots of experience with EEM loans.

Asked by matcar1, California Tue Jan 10, 2012

It seems like its difficult to fin mortgage originators that do these on a regular basis. Does any one here know of any mortgage companies that specialize on these in the Las Vegas area... I called a couple of places but they seemed clueless. I been doing some research and from what i understand you can get a higher loan amount based on the savings from the home being energy efficient. since you could get qualify for a higher mortgage amount you could include the down payment in the mortgage. The Price of the home I was looking is around 170k, and these homes are brand new with all kinds of Energy efficient upgrades including solar panels..

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Rey Gallegos, Mortgage Broker Or Lender, Las Vegas, NV
Tue Jan 10, 2012
EEM Mortgages are in fact a little used loan product, however the guidelines do not differ much from the regular FHA loan. The key is what are the particular lender "overlays".

In order to get VA Loans Guaranteed, FHA Loans Insured, and Conventional loans purchased on the secondary market, the VA, Ginnie Mae, and Fannie/Freddie respectively put forth guidelines for lenders to follow. Assuming they follow the guidelines, these entities will do their part and back the loan. Lenders cannot make these guidline "less strict" and still get the backing, howver they can make them more strict. That is called a lender over lay.

So, that being said we do not have a lot of lender overlays on our FHA EEM loans, we also offer the FHA Powersaver loan as well as the FHA 203K loan. All of which can accomplish what you sound like you are trying to accomplish.

Can you send me an email with some more detailed questions or call me and I will be happy to go over your scenario?

Your mortgage partner for life,

Rey Gallegos (NMLS ID 557038)
Loan Officer | Retail Sales Branch Manager
W.J. Bradley Mortgage Capital LLC (NV License # 504)
702.808.8328 Direct
702.446.6591 Fax
702.800.5077 Office
2200 Paseo Verde Pkwy. Ste. 100
Henderson, NV 89052
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