Energy Efficient Mortgage with
a 203k Loan
Tax Credit & Energy Efficient Mortgages using a FHA 203k Loan
If you are looking to make energy efficient home improvements to your home (such as windows, doors, insulation,
or a new air conditioning unit), you may qualify for an energy efficient tax credit! A tax credit is generally more
valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction
only removes a percentage of the tax that is owed.
The FHA 203k loan can be used in conjuction wth making Energy Efficiient improvement to a
home. Not only do you get the benefits of the improvements but you can finance the cost of these improvements
into your home with the FHA 203k loans.
Consumers who purchase and install specific products in their principal residence can receive a tax credit for 30%
of the cost, up to $1,500, for improvements made starting January 1, 2009 through December 31, 2010.
Tax credits are available at 30% of the cost, up to $1,500 in 2009 and 2010 for the following:
- Windows and Doors
- Roofs (Metal and Asphalt)
- Water Heaters (non-solar)
- Biomass Stoves
Tax credits are available at 30% of the cost, with no upper limit through 2016 for the following:
- Geothermal Heat Pumps
- Solar Panels
- Solar Water Heaters
- Small Wind Energy Systems
- Fuel Cells
Again, by combining the FHA 203k loan with Engery Efficient improvements can prove quite a lot of savings.
Apply for you FHA 203k loan and Start getting your Tax Credit.