Looking to make your home more energy-efficient while saving money? Our new EcoSave Loan combines the FHA Solar and Wind Technology Loan with up to a $13,000 incentive from HOPER (Home Ownership, Promotion, Education, & Research) and offers homeowners a fantastic opportunity to purchase a home and add renewable solar energy and battery storage system.

The best part? You DO NOT need to be a 1st time homebuyer and there are NO income limits.

By taking advantage of this program, you are joining a research study on the long-term financial benefits of homebuyers who participate in homebuyer education and financial mentorship. As compensation, you are paid $13,000 to use towards purchasing a home and installing solar on it.

Some key points:

• Earn 3.5% of the sales price for down payment & closing costs (up to $13,000).
• The money does not need to be repaid.
• No 2nd mortgage.
• You must add solar to your new home within 120 days, the solar is financed into your FHA mortgage.

To be eligible for this program you must:

• Purchase a 1-4 unit detached home.
• Live in the home for at least 12 months after purchase.
• Purchase a home that does not already have solar.
• Install solar after closing (30% tax rebate eligible).
• Property must be located in: CA, AZ, TX, NV, UT, FL, ID, IL
• **You DO NOT need to be a 1st time homebuyer.
• **There are NO income limits.

Benefits of the EcoSave FHA Loan:

1. Low-Cost Financing:

This FHA-backed loan allows homeowners to finance energy-efficient solar and wind technology upgrades with competitive interest rates. You can roll the cost of these upgrades into your mortgage, making eco-friendly home improvements more affordable.

2. Energy Savings:

Installing solar panels can significantly reduce your energy bills, saving you money in the long run. Over time, these systems usually for themselves, while also adding value to your home. The typical savings over a 25-year solar panel system in CA is approximately $50,000 and the typical home’s value increases by 4%.

3. $13,000 HOPER Incentive:

HOPER offers a generous incentive to homeowners equal to 3.5% of their sales price but not to exceed $13,000. This money is used for down payment and closing costs as long as you agree to incorporate solar technology in your home. This can offset a significant portion of the installation cost, making it easier to go green without breaking the bank. The entire cost of the solar system and any necessary repairs needed to install solar can all be rolled into your FHA financing.

4. Tax Credits With Solar

Installing a solar system can make you eligible to receive a Federal tax credit equal to 30% of the entire cost of installing your system. A tax credit is a dollar-for-dollar reduction to your tax bill, not simply a deduction that reduces your taxable income.

5. Environmental Impact:

Using renewable energy reduces your carbon footprint, helping you contribute to a cleaner, greener environment while enjoying the benefits of sustainable living.

Requirements to join this program:

• Participate in a 6-hour pre-closing financial education ($149).
• Sign up for a 1-time post-closing financial mentorship course & 3-year credit monitoring service ($80).
• Commit to responding to a survey up to 3x per year for 3-5 years after closing related to your experience as a homeowner.

Click here to work with me on your next mortgage.

~Rob

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