The PowerSaver Grant continues to be a huge success for home buyers at AmeriFirst Home Mortgage. Looking at the numbers through June of 2014, nearly 100 home buyers have put the PoweSaver Grant to use. This means about 100 home buyers have installed energy efficient upgrades to their house in order to save money on utility bills. It also means these folks have all had their closing costs paid* through PowerSaver.
What is PowerSaver? The PowerSaver Grant from AmeriFirst Home Mortgage covers closing costs when a home buyer (or homeowner refinancing their home) makes specific energy efficient home improvements with FHA 203k.
Home buyers and homeowners can make energy efficient upgrades to their home. They can then qualify for a rebate of sorts - approximately $2,000 on average - in closing costs paid by AmeriFirst Home Mortgage as "lender credits." The amount depends on the amount of the loan.
Eligible home improvements include:
- Energy Star furnace or air conditioner
- Energy Star water heater
- Approved insulation upgrading
- Approved window replacement
- Energy Star specified roof repair/replacement
- Ground source heat pump
- Sustainable energy upgrades like fuel cells, solar panels or wind turbine
Read all about the PowerSaver Grant with these articles: What is the PowerSaver Grant?
Just how good is this new endeavor going for clients of AmeriFirst Home Mortgage?
Data through June 2014
- AmeriFirst Home Mortgage has closed 97 PowerSaver Loans
- Credits to borrowers since the inception of the grant:
- Origination and Underwriting Fees $ 174,586.95
- Appraisal Fees $ 42,675.00
- Energy Audits $ 2,399.99
Grand total of money saved for AmeriFirst clients through closing cost credits: $ 219,661.94!
This represents an average closing cost credit total of $2264 per loan!
Find out how you can take part in this nearly quarter of a million dollars in savings with your home. Watch the video below and learn more by downloading the PowerSaver Grant Buyer's Guide here.
See the above embedded video here - PowerSaver Grant from AmeriFirst Home Mortgage TV ad