Do you want to make your house more energy efficient? Then you can invest in energy-saving measures. This increases the value of your house and reduces your energy costs. In addition, it is also good for the environment. In 2019, the percentage that you can borrow extra will remain the same for this: you can, just like in 2018, still borrow 106% of the home value. Please note that this additional 6% may be a maximum of 9,000 dollars on top of your LTI. The condition is that you spend this on energy-saving facilities. So do you want a mortgage with NHG, but are you planning to make your home more energy efficient? Then the maximum purchase price in 2019 including the amount that you spend on energy-saving facilities is dollars. With low Cost of Living in Hilton Head Island SC you can have the best choice of the location.
Extra mortgage energy efficient home
Maybe you don’t want to make your house more energy efficient yourself, but you have an eye on a house that is already energy neutral. You could get a higher mortgage in 2019 for this type of house. This will remain so in 2019, but the rules in this area have changed slightly. A distinction is made between two different types of energy-efficient houses if it is determined how much you can borrow extra.
EPC = 0 property
The EPC (Energy Performance Coefficient) is used to determine how economical a house is. For an energy-efficient home with an EPC of 0 or lower (EPC = 0 home), you can borrow 15,000 dollars from this year on top of your maximum LTI. In 2018 this was 25,000 dollars (only if you had an energy performance guarantee of 10 years). The reason for this is that a house with an EPC of 0 or lower still has user-related energy charges: no electricity is generated for your refrigerator or television, for example.
Zero-meter meter house
With a zero-meter meter housing (NOM), the building-related and the usage-related costs never exceed 0. The house therefore also generates energy itself to compensate the usage-related costs. As a result, you save even more on your energy bill than with an EPC = 0 home. The amount that comes on top of your LTI, and is therefore not included in the financing burden, is therefore higher for a NOM home. If you have an energy performance guarantee of at least 10 years, an amount of up to 25,000 may be disregarded when calculating your maximum mortgage.
Borrow more than your home value
In principle it is true that you are not allowed to borrow more than your house is worth, but if you are planning to take energy-saving measures, or if your house is already energy efficient, there are several possibilities to get a higher mortgage.
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Buying a house is very exciting and often takes a lot of time. Do you want to know what the best choice is for you? Or do you need help bidding? Make a free call appointment with one of my specialized advisors. They can help you with all your questions.