Vermont Energy Mortgage

Lead Performer: Energy Futures Group – Hinesburg, VT
Partners:
-- Vermont State Employees Credit Union – Montpelier, VT
-- Clearly Energy – Chicago, IL
-- Northeast Energy Efficiency Partnerships -- Lexington, MA
-- Efficiency Vermont – Burlington, VT
DOE Total Funding: $200,000     
Project Term: August 2020 – June 2021
Funding Type: Small Business Innovation Research Funding

Project Objective

This project will test a simplified and automated approach to incorporating energy into the mortgage process. By leveraging the Vermont State Employees Credit Union (VSECU)’s mortgage origination and underwriting systems, this project will develop and pilot energy improvement financing as part of the mortgage process for existing homes in Vermont. The project team will leverage DOE’s Home Energy Score, develop an Energy Estimator customization to support Vermont Energy Mortgage (VEM) projects with estimated annual energy costs, and provide staff training on incorporating energy information into the mortgage process.

Project Impact

Through this process, each borrower will receive information about homes with energy costs, offer a Home Energy Score, and act on recommendations through their mortgage lender. This provides a much-needed model to encourage the inclusion of energy performance in the mortgage process and enable greater financing for residential efficiency.

Contacts

DOE Technology Manager: Madeline Salzman 
Lead Performer: Richard Faesy, Energy Futures Group