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Are you thinking of buying a 5 Star Energy Efficient Home?

July 19, 2011

Are you thinking of buyer a 5 star energy efficint home?  Alaska Housing Financial Corp. is offering rate reductions when financing new or existing energy efficient homes, or when borrowers purchase and make energy improvements to an existing home. Any property that can be energy rated and is otherwise eligible for AHFC financing may qualify for this program.

Here are the details:

New Construction
One of the following rate reductions may apply on newly constructed properties that exceed the minimum Alaska Building Energy Efficiency Standard (BEES). All homes constructed on or after April 1, 2007 must meet BEES 2007.

Access to Natural Gas

  • 5 Star Rating – .250%
  • 5 Star Plus Rating – .375%

No Access to Natural Gas

  • 5 Star Rating – .375%
  • 5 Star Plus Rating – .500%

You may qualify for a $7,500 rebate under the Home Energy Rebate Program.

Existing Energy Efficient Properties
Existing properties (completed for more than one year or previously occupied) may be eligible for one of the following rate reductions.

Access to Natural Gas

  • 5 Star Rating – .125%
  • 5 Star Plus Rating – .250%

No Access to Natural Gas

  • 5 Star Rating – .250%
  • 5 Star Plus Rating – .375%

Existing Properties with Energy Improvements
The Lender must notify AHFC at the time of application that the borrower intends to participate in the program. Within 365 days of loan closing the borrower must: 1) obtain an initial energy rating, 2) complete the improvements, 3) obtain the final energy rating, and 4) submit documentation to the loan servicer. AHFC modifies the interest rate based on the number of points and steps of improvement.

Access to Natural Gas

  • 1 Step – .125%
  • 2 Steps – .250%
  • 3 Steps – .500%
  • 4 Steps – .625%

No Access to Natural Gas

  • 1 Step – .250%
  • 2 Steps – .375%
  • 3 Steps – .625%
  • 4 Steps – .750%

Additional Considerations:

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