Mortgage Updates

 
Cash rebate for energy efficient applicances is coming to your state. 
 
This program offering rebates on purchases of a wide array of home appliances certified as energy-efficient by the EPA'sEnergy Star program.  Consumers nationwide will be able to take advantage of this new federal program by the end of 2009.

The American Recovery and Reinvestment Act,  backs this venture by an initial $300 million in funding.  This program will be state-run October 15 was the deadline for the states to submit their administration plan. With this plan the states will  select which residential Energy Star qualified appliances to include in their programs and the individual rebate amount offered for each appliance. This rebate program is intended to help make American homes more energy-efficient while further stimulating the economy.  Items potentially covered per the Department of Energy are appliances for heating and cooling equipment, appliances, and water heaters as these products offer the greatest energy savings potential. Energy Star qualified appliance categories eligible for rebates include: central air conditioners, heat pumps (air source and geothermal), boilers, furnaces (oil and gas), room air conditioners, clothes washers, dishwashers, freezers, refrigerators, and water heaters.
 
The Department of Energy plans to have distributed funding to the states by November 30. As a result, the cash for appliances rebates could be available in stores just in time for Christmas shopping. For home buyers this could be an additional benefit if their financing includes the EEM or Energy Efficient Mortgage.  In this manner the replacement of heating and air conditioning as well as most appliances and water heaters can be included in the low interest rate financing for the home, creating energy efficient living space and thereby increasing discretionary dollars for the home buyer.
Posted by INGRID PIERSON on October 21st, 2009 12:54 PMPost a Comment (0)
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