2.5 Percent Construction Loans and Reduced Rate Mortgages...
The Nebraska Energy Office in Lincoln is offering 2.5 percent Dollar and Energy Saving Loans through eligible Nebraska lenders for the construction of single family, detached ENERGY STAR Five Star Plus homes. ENERGY STAR qualified homes meet or exceed state’s energy code by 30 percent or more and are independently verified for energy efficiency set by the U.S. Environmental Protection Agency. These homes save money on utility bills, provide comfortable living with better indoor air quality and help protect the environment.
Construction Loans and Long-Term Financing
Potential borrowers have the option to choose a conventional construction loan or self finance the construction. Long term permanent financing is also available. The Energy Office's written approval of the construction plans prior to the start of construction is required. Construction loans of up to $417,000 at 2.5 percent interest for 12 months are available from any participating Dollar and Energy Saving Loan lender in the state. Reduced fixed interest rate mortgage loans for up to 30 years are available through Tecumseh Federal Bank.
ENERGY STAR Five Star Plus homes typically feature higher levels of properly installed insulation, high-performance windows, tight construction and ducts, efficient heating and cooling equipment and Energy Star appliances, lighting and water heaters. Additional information is at the ENERGY STAR website.
The first step to building an ENERGY STAR Five Star Plus Home is to have a Certified Home Energy Rater complete a rating of the construction plans provided by the designer and builder to verify the most appropriate energy saving features have been included in the home.
More information on the Nebraska Energy Efficient Housing Loans is at the Energy Office website. Names of Certified Home Energy Raters can be found on the RESNET or ENRGY STAR web sites.
Contact Jack Osterman at the Nebraska Energy Office for more information.