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News Room : ENERGY STAR What is ENERGY STAR? | Newsroom Search History Partners News Archive Awards Media Resources PRODUCTS HOME IMPROVEMENT NEW HOMES BUSINESS IMPROVEMENT PARTNER RESOURCES -- Home > News Room -- -- News Room ENERGY STAR in the News What's New: Program Highlights Half of the States Join ENERGY STAR Challenge (December 2005) Half of the states across the nation are joining with the EPA to address critical energy issues in our communities in conjunction with EPA's ENERGY STAR Challenge. Through the ENERGY STAR Challenge, state governments will offer a variety of programs to help building owners assess how much energy their buildings use now, establish efficiency improvement goals of 10 percent or greater portfolio-wide, and make efficiency improvements wherever cost effective. EPA Press Release List of Participating States (87KB) More Information Businesses: Save on Energy Bills this Winter (November 2005) American businesses are experiencing higher than ever energy prices, which are expected to continue this winter. EPA has advice almost any business can take to save 10% or more on their energy bills this winter. The advice shares lessons learned from EPA's ENERGY STAR partners who have saved through simple steps and adopted longer term energy management strategies with even greater savings. If every business in the US saved 10% on their energy bills, Americans would save about $10 billion and reduce greenhouse gas emissions equivalent to those from 15 million vehicles. EPA Press Release Advice for Saving Energy EPA Recognizes 18 Leading Organizations for Efforts to Cut Energy Bills (October 2005) On October 26, EPA Administrator Stephen Johnson recognized 18 organizations as ENERGY STAR Leaders for achieving significant energy savings and leading their industries in responding to EPA's ENERGY STAR Building Challenge. The ENERGY STAR Commercial Building Challenge, launched in Spring 2005, encourages building owners and managers to make their buildings at least 10% more efficient. EPA Press Release Fact Sheet (66KB) Leader Profiles (36KB) More Information on the ENERGY STAR Challenge Save Energy this Winter with help from ENERGY STAR (October 2005) In the face of higher energy bills this winter, the EPA encourages everyone to take action in their home to be more energy efficient. The average American household spends $1,500 annually on energy bills — a number that may go up as much as 50 percent this year. EPA offers five places to look and practical advice for home energy savings. EPA Press Release Home Energy Quiz (240KB) More Information K-12 Schools take the ENERGY STAR Challenge (October 2005) Ten leading associations representing state school boards, superintendents, principals, facility planners, parents, and teachers are joining with the EPA to address critical energy issues in our nation's K-12 schools. Currently, the nation's more than 17,000 K-12 schools spend $5 billion on energy bills each year. However, school districts can save up to 30 percent on their energy bills through cost-effective energy efficiency improvements. Through the ENERGY STAR Challenge, school decision-makers assess how much energy school districts use now, establish efficiency improvement goals of 10 percent or greater district-wide, and make efficiency improvements wherever cost effective. EPA Press Release Fact Sheet (82KB) Participants List (62KB) More Information EPA and DOE Announce ENERGY STAR Change a Light Day (October 2005) EPA and DOE, together with more than half of US Governors, declared October 5th ENERGY STAR Change a Light Day, and encouraged every American to change a light in their home to one that is more energy efficient. Lighting accounts for 20 percent of a home's electricity costs. ENERGY STAR qualified bulbs reduce household energy bills because they use one-third the energy of traditional lighting and last up to 10 times longer. This small step can make a big difference for our nation's energy resources and environment. EPA Press Release Campaign Fast Facts (98KB) Governors Declaring ENERGY STAR Change a Light Day (307KB) 250+ Participating Organizations (628KB) Take the Pledge EPA Raises the Bar for New Homes to Earn ENERGY STAR Label (September 2005) Builders of new homes in the United States will have to significantly increase the energy efficiency of their homes to meet the new ENERGY STAR requirements which take effect July 1, 2006. To qualify under the revised ENERGY STAR specifications, new homes must have higher levels of insulation inspected for proper installation; complete framing and air barrier assemblies that enable insulation to perform at its full rated value; windows that meet or exceed ENERGY STAR requirements; high-efficiency and properly sized heating and cooling equipment appropriate to the climate; and more energy-efficient water heating, lighting and appliances. EPA Press Release More information ENERGY STAR Annual Report Released (September 2005) EPA recently released its annual report summarizing the success of ENERGY STAR and other voluntary climate protection programs. The report summarizes the accomplishments of these programs for 2004. For example, Americans, with the help of the ENERGY STAR, avoided greenhouse gas emissions equivalent to those from 20 million automobiles – up from 18 million in 2003 – while saving $10 billion on their energy bills. EPA Press Release 2004 Annual Report (1.27MB) New Partnerships for Home Energy Efficiency Announced (July 2005) On July 11 the EPA, DOE and HUD announced a new multi-agency effort, the Partnerships for Home Energy Efficiency, to bring greater energy efficiency to the U.S. housing market to save 10 percent or more on home energy bills over the next decade. A 10 percent savings would total almost $20 billion a year, help increase the affordability and comfort of homes, reduce demand for natural gas by more than 1 quad, avoid the need for 40 power plants and avoid the greenhouse gas emissions equivalent to those from more than 25 million vehicles. Home Performance with ENERGY STAR plays a large role in delivering these savings to consumers. EPA/HUD/DOE Press Release Report: Partnerships for Home Energy Efficiency (3.00MB) Overview Fact Sheet: Partnerships for Home Energy Efficiency (247KB) Home Performance with ENERGY STAR (141KB) ENERGY STAR Products for American Homes (186KB) Quality Installation for Air Conditioning Equipment (109KB) Case Studies: Home Performance with ENERGY STAR Aurora, CO (137KB) Austin, TX (131KB) Fresno, CA (214KB) Ithaca, NY (216KB) Manlius, NY (88KB) St. Louis, MO (146KB) Suwanee, GA (108KB) EPA Announces Energy Performance Indicator for Auto Assembly Plants (June 2005) The energy efficiency of automobile assembly plants can now be rated on a national basis. EPA has recently made available a tool to help the automobile industry evaluate the energy performance of its assembly plants. This tool, the first of its kind for a manufacturing facility, compares the energy efficiency of any assembly plant producing passenger cars, light duty trucks, sport utility vehicles, and vans in the U.S. to that of the entire industry. EPA Press Release Auto Assembly Plant Energy Performance Indicator EPA Offers Smart Ways to Stay Cool this Summer (June 2005) Energy use escalates when hot summer days set in across the nation. EPA's ENERGY STAR program is offering advice this summer on how to save money, remain cool and comfortable and help reduce the risks of global warming – all at the same time. Advice includes keeping your air conditioner maintained, using a programmable thermostat, sealing up gaps and cracks in the home envelope, and replacing old equipment with products that have earned the government's ENERGY STAR for energy efficiency. EPA Press Release EPA's Guide to Energy Efficient Heating and Cooling (663KB) Cool Your World Fast Facts (English) (150KB) Cool Your World Simple Steps (English) (44KB) Cool Your World Fast Facts (Spanish) (68KB) Cool Your World Simple Steps (Spanish) (49KB) New Water and Wastewater Industry Focus Announced (May 2005) EPA is launching a new initiative to increase the energy efficiency of U.S. drinking water and wastewater systems, with participation from more than 20 leading organizations. The new ENERGY STAR Water and Wastewater Industry Focus will work over the next year to develop an energy performance rating system, a guide to assessing energy efficiency opportunities, strategies for superior energy management, and innovative approaches to financing energy efficiency projects for each of the two industries. This new ENERGY STAR focus is part of a series of efforts to improve the energy efficiency of selected industries. EPA Press Release Fact Sheet (55KB) EPA announces ENERGY STAR Building Challenge (March 2005) EPA joined with more than 20 leading associations, States, and businesses to announce a national challenge for the owners of commercial and institutional buildings across the country. The ENERGY STAR Challenge encourages building owners to improve the efficiency of their buildings by 10 percent or more and to capitalize on the environmental benefits and cost savings that will result. EPA Press Release List of organizations partnering with EPA More information 2005 ENERGY STAR Awards (March 2005) EPA and DOE are recognizing 50 organizations as winners of the 2005 ENERGY STAR Partner of the Year Awards. These organizations have made outstanding contributions to reducing greenhouse gas emissions through energy efficiency. EPA and DOE sponsor these awards annually to recognize energy efficiency investments made by ENERGY STAR partners that saved consumers money while helping the environment. The Partners of the Year are selected from the over 7,000 ENERGY STAR partners based on their efforts to utilize energy-efficient technologies, communicate the benefits of energy savings to consumers and businesses, and encourage others to partner with ENERGY STAR. This year's award winners include Lowes Companies Inc., Food Lion, Pardee Homes, USAA Real Estate and 3M. EPA Press Release List of 50 award winners (15KB) More on Awards EPA's Public Service Announcement (PSA): 2005 ENERGY STAR Awards (2.84MB) International Power Supply Design Competition Winners Announced at Applied Power Electronics Conference and Exposition (APEC), Austin, TX, March 6-10, 2005 (March 2005) On March 7, 2005 at APEC's plenary session, the U.S. Environmental Protection Agency (EPA) and the California Energy Commission announced the winners of Efficiency Challenge 2004, an international design competition for power supply efficiency. Twelve winners were selected, including two Grand Champions: Power Integrations in the Market Ready Category and Hong Kong Polytechnic University in the Open Category. All the winning entries are more energy efficient, and in many cases radically smaller than typical power supplies on the market today, demonstrating what is possible in future consumer electronics products. Efficiency Challenge APEC Presentation (62KB) Andrew Fanara, EPA, Andy Williams, ON Semiconductor, and Peter Schwartz, representing the California Energy Commission Andrew Fanara, EPA, Balu Balakrishnan, Power Integrations, and Peter Schwartz, representing the California Energy Commission Andrew Fanara, EPA, Speaking at APEC 2005 Product Picture, Power Integrations, Winner of Best in Class A1, Market Ready Grand Champion EPA Efficiency Challenge Press Release (62KB) Judging Criteria Fact Sheet (55KB) Efficiency Challenge 2004 Judge Bios (33KB) Efficiency Challenge Winner Fact Sheets (162KB) ENERGY STAR Qualified Homes Near 10 Percent of Housing Starts Nationwide (March 2005) Nearly 10 percent of all homes built in 2004 earned the ENERGY STAR label. According to a recently released report, A Decade of Change in Home Building with ENERGY STAR (2.36MB), since 1995 over 360,000 of the Nation's new homes have earned the ENERGY STAR, saving homeowners an estimated $200 million and eliminating approximately 4 billion pounds of greenhouse gas emissions. EPA Press Advisory Report: A Decade of Change in Home Building with ENERGY STAR (2.36MB) More information on ENERGY STAR Qualified New Homes Almost 2,000 Buildings Have Earned EPA's ENERGY STAR (January 2005) As of January 1, 2005, almost 2,000 of the nation's most energy efficient buildings, representing almost 400 million square feet, have earned EPA's ENERGY STAR designation for superior energy performance. The buildings qualifying as ENERGY STAR use about 40 percent less energy than average buildings without compromising comfort or services. Press Release List of buildings (2.14MB) More information ENERGY STAR Awareness Climbs to Over 60 Percent (February 2005) Public awareness of ENERGY STAR has jumped to 64 percent of U.S. households, according to a recent nationwide survey. In many major markets where local utilities and other organizations use ENERGY STAR to promote energy efficiency to their customers, public awareness of ENERGY STAR is even higher, averaging 74 percent. EPA Press Advisory (14KB) Survey Report (1.58MB) Energy-Efficient External Power Adapters Can Now Earn the ENERGY STAR (January 2005) On January 6, 2005 EPA announced that the ENERGY STAR is now available for qualifying external power adapters. Power adapters, also known as external power supplies, are used to power many electronic products such as cell phones, PDAs, digital cameras, camcorders, MP3 players, routers and other electronics and appliances. As many as 1.5 billion power adapters are in use in the U.S. – which is about five for every person. The new guidelines for power adapters will help reduce greenhouse gas emissions; in the U.S., more efficient adapters have the potential to save over 5 billion kilowatt hours (kWh) of energy and prevent the release of more than 4 million tons of greenhouse gas emissions the equivalent to taking 800,000 cars off the road. Press Release More on Power Adapters Photos: CES Show , EPS Booth New ENERGY STAR Monitor Specification (January 2005) Beginning January 2005, computer monitors must meet more energy-efficient requirements to qualify for the ENERGY STAR label. For the first time, the specification addresses energy consumption while monitors are in use, as well as while they are idle. Many models on the market already meet EPA's new specifications. By 2010, EPA estimates that the new requirements will result in carbon emission savings of almost 5 million metric tonnes (carbon equivalent), or the equivalent of taking more than 3 million cars off the road. The previous computer monitor requirements called for only a "sleep mode" energy-saving function. Press Release More Information News Archives Press Contact: Maria T. Vargas, (202) 343-9451 Consumer Contact Information: energystar@optimuscorp.com 1-888-STAR-YES Products | Home Improvement | New Homes | Business Improvement | Partner Resources Newsroom | Privacy | Contact Us | Site Index EPA Home EPA Search DOE Home DOE Search

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Federal Trade Commission -- Search: Facts for Consumers PDF Version Looking for the Best Mortgage Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage—whether it's a home purchase, a refinancing, or a home equity loan—is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars. Obtain Information from Several Lenders Home loans are available from several types of lenders— thrift institutions , commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices, so you should contact several lenders to make sure you're getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker's access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions. Whether you are dealing with a lender or a broker may not always be clear. Some financial institutions operate as both lenders and brokers. And most brokers' advertisements do not use the word "broker." Therefore, be sure to ask whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender's origination or other fees. A broker's compensation may be in the form of "points" paid at closing or as an add-on to your interest rate , or both. You should ask each broker you work with how he or she will be compensated so that you can compare the different fees. Be prepared to negotiate with the brokers as well as the lenders. Obtain All Important Cost Information Be sure to get information about mortgages from several lenders or brokers. Know how much of a down payment you can afford, and find out all the costs involved in the loan. Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker: Rates Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week. Ask whether the rate is fixed or adjustable . Keep in mind that when interest rates for adjustable-rate loans go up, generally so does the monthly payment. If the rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down. Ask about the loan's annual percentage rate (APR). The APR takes into account not only the interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate. Points Points are fees paid to the lender or broker for the loan and are often linked to the interest rate; usually the more points you pay, the lower the rate. Check your local newspaper for information about rates and points currently being offered. Ask for points to be quoted to you as a dollar amount—rather than just as the number of points—so that you will actually know how much you will have to pay. Fees A home loan often involves many fees, such as loan origination or underwriting fees , broker fees, and transaction , settlement, and closing costs . Every lender or broker should be able to give you an estimate of its fees. Many of these fees are negotiable. Some fees are paid when you apply for a loan (such as application and appraisal fees), and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. "No cost" loans are sometimes available, but they usually involve higher rates. Ask what each fee includes. Several items may be lumped into one fee. Ask for an explanation of any fee you do not understand. Some common fees associated with a home loan closing are listed on the Mortgage Shopping Worksheet in this brochure. Down Payments and Private Mortgage Insurance Some lenders require 20 percent of the home's purchase price as a down payment. However, many lenders now offer loans that require less than 20 percent down—sometimes as little as 5 percent on conventional loans . If a 20 percent down payment is not made, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay. When government-assisted programs such as FHA (Federal Housing Administration), VA (Veterans Administration), or Rural Development Services are available, the down payment requirements may be substantially smaller. Ask about the lender's requirements for a down payment, including what you need to do to verify that funds for your down payment are available. Ask your lender about special programs it may offer. If PMI is required for your loan, Ask what the total cost of the insurance will be. Ask how much your monthly payment will be when including the PMI premium. Ask how long you will be required to carry PMI. Obtain the Best Deal That You Can Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, lenders and brokers may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications. The most likely reason for this difference in price is that loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Generally, the difference between the lowest available price for a loan product and any higher price that the borrower agrees to pay is an overage . When overages occur, they are built into the prices quoted to consumers. They can occur in both fixed and variable-rate loans and can be in the form of points, fees, or the interest rate. Whether quoted to you by a loan officer or a broker, the price of any loan may contain overages. Have the lender or broker write down all the costs associated with the loan. Then ask if the lender or broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You'll want to make sure that the lender or broker is not agreeing to lower one fee while raising another or to lower the rate while raising points. There's no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere. Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the lender or broker. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid. A fee may be charged for locking in the loan rate. This fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed; if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the lender or broker. Remember: Shop, Compare, Negotiate When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several lenders. Since rates and points can change daily, you'll want to check your newspaper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the lenders about them. The Mortgage Shopping Worksheet that follows may also help you. Take it with you when you speak to each lender or broker and write down the information you obtain. Don't be afraid to make lenders and brokers compete with each other for your business by letting them know that you are shopping for the best deal. Fair Lending Is Required by Law The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, whether all or part of the applicant's income comes from a public assistance program, or whether the applicant has in good faith exercised a right under the Consumer Credit Protection Act. The Fair Housing Act prohibits discrimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status, or national origin. Under these laws, a consumer cannot be refused a loan based on these characteristics nor be charged more for a loan or offered less favorable terms based on such characteristics. Credit Problems? Still Shop, Compare, and Negotiate Don't assume that minor credit problems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders. If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the lender or broker. If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. But don't assume that the only way to get credit is to pay a high price. Ask how your past credit history affects the price of your loan and what you would need to do to get a better price. Take the time to shop around and negotiate the best deal that you can. Whether you have credit problems or not, it's a good idea to review your credit report for accuracy and completeness before you apply for a loan. To order a copy of your credit report, contact: Equifax: (800) 685-1111 TransUnion: (800) 916-8800 Experian: (888) EXPERIAN (397-3742) Glossary Adjustable-rate loans , also known as variable-rate loans, usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates rise, generally so do your loan payments; and when interest rates fall, your monthly payments may be lowered Annual percentage rate (APR) is the cost of credit expressed as a yearly rate. The APR includes the interest rate, points, broker fees, and certain other credit charges that the borrower is required to pay. Conventional loans are mortgage loans other than those insured or guaranteed by a government agency such as the FHA (Federal Housing Administration), the VA (Veterans Administration), or the Rural Development Services (formerly know as Farmers Home Administration, or FmHA). Escrow is the holding of money or documents by a neutral third party prior to closing. It can also be an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance. Fixed-rate loans generally have repayment terms of 15, 20, or 30 years. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan. The interest rate is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions. Loan origination fees are fees charged by the lender for processing the loan and are often expressed as a percentage of the loan amount. Lock-in refers to a written agreement guaranteeing a home buyer a specific interest rate on a home loan provided that the loan is closed within a certain period of time, such as 60 or 90 days. Often the agreement also specifies the number of points to be paid at closing. A mortgage is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off on the loan. Overages are the difference between the lowest available price and any higher price that the home buyer agrees to pay for the loan. Loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Points are fees paid to the lender for the loan. One point equals 1 percent of the loan amount. Points are usually paid in cash at closing. In some cases, the money needed to pay points can be borrowed, but doing so will increase the loan amount and the total costs. Private mortgage insurance (PMI) protects the lender against a loss if a borrower defaults on the loan. It is usually required for loans in which the down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value. Thrift institution is a general term for savings banks and savings and loan associations. Transaction, settlement, or closing costs may include application fees; title examination, abstract of title, title insurance, and property survey fees; fees for preparing deeds, mortgages, and settlement documents; attorneys' fees; recording fees; and notary, appraisal, and credit report fees. Under the Real Estate Settlement Procedures Act, the borrower receives a good faith estimate of closing costs at the time of application or within three days of application. The good faith estimate lists each expected cost either as an amount or a range. This brochure was prepared by the following agencies: Department of Housing and Urban Development Department of Justice Department of the Treasury Federal Deposit Insurance Corporation Federal Housing Finance Board Federal Reserve Board Federal Trade Commission National Credit Union Administration Office of Federal Housing Enterprise Oversight Office of the Comptroller of the Currency Office of Thrift Supervision These agencies (except the Department of the Treasury) enforce compliance with laws that prohibit discrimination in lending. If you feel that you have been discriminated against in the home financing process, you may want to contact one of the agencies listed above about your rights under these laws. For more information on home lending issues , visit www.consumer.gov , write to the Consumer Information Center, Pueblo, CO 81009 or visit the Center's Web site . The following brochures are available from the center: A Consumer's Guide to Mortgage Lock-lns A Consumer's Guide to Mortgage Refinancing Buying Your Home: Settlement Costs and Helpful Information Consumer Handbook on Adjustable Rate Mortgages Guide to Single Family Home Mortgage Insurance Home Buyer's Vocabulary Home Mortgages: Understanding the Process and Your Rights to Fair Lending How to Buy a Home with a Low Down Payment How to Dispute Credit Report Errors The HUD Home Buying Guide When Your Home Is on the Line Mortgage Shopping Worksheet Lender 1 Lender 2 Name of Lender Name of Contact Date of Contact Mortgage Amount Basic Information on the Loans Mortgage 1 Mortgage 2 Mortgage 1 Mortgage 2 Type of Mortgage: Fixed rate, adjustable rate, conventional, FHA, other? If adjustable, see below. Minimum down payment required Loan term (length of loan) Contract interest rate Annual percentage rate (APR) Points (may be called loan discount points) Monthly Private Mortgage Insurance (PMI) premiums How long must you keep PMI? Estimated monthly escrow for taxes and hazard insurance Estimated monthly payment (Principal, Interest, Taxes, Insurance, PMI) Fees Different institutions may have different names for some fees and may charge different fees. We have listed some typical fees you may see on loan documents. Application fee or Loan processing fee Origination fee or Underwriting fee Lender fee or Funding fee Appraisal fee Attorney fees Document preparation and recording fees Broker fees (may be quoted as points, origination fees, or interest rate add-on) Credit report fee Other fees Other Costs at Closing/Settlement Title search/Title Insurance For lender For you Estimate prepaid amounts for interest, taxes, hazard insurance, payments to escrow State and local taxes, stamp taxes, transfer taxes Flood determination Prepaid Private Mortgage Insurance (PMI) Surveys and home inspections Total Fees and Other Closing/Settlement Cost Estimates Mortgage Shopping Worksheet - continued Lender 1 Lender 2 Name of Lender Other Questions and Considerations about the Loan Mortgage 1 Mortgage 2 Mortgage 1 Mortgage 2 Are any of the fees or costs waivable? Prepayment penalties Is there a prepayment penalty? If so, how much is it? How long does the penalty period last? (for example, 3 years? 5 years?) Are extra principal payments allowed? Lock-ins Is the lock-in agreement in writing? Is there a fee to lock-in? When does the lock-in occur -0 at application, approval or another time? How long will the lock-in last? If the rate drops before closing, can you lock-in at a lower rate? If the loan is an adjustable rate mortgage: What is the initial rate? What is the maximum the rate could be next year? What are the rate and payment caps each year and over the life of the loan? What is the frequency of rate change and of any changes to the monthly payment? What is the index that the lender will use? What margin will the lender add to the index? Credit life insurance Does the monthly amount quoted to you include a charge for credit life insurance? If so, does the lender required credit life insurance as a condition of the loan? How much does the credit life insurance cost? How much lower would your monthly payment be without the credit life insurance? If the lender does not require credit life insurance, and you still want to buy it, what rates can you get from other insurance providers? The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues , visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel , a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. January 1999

Denver Real Estate -

Denver Colorado Real Estate Guide Welcome to Denver CityStar Marketplace! Contact CityStar ® for details on links and advertising . 24/7 online loan approval More Colorado Real Estate: Aurora | Boulder | Canon City | Castle Rock | Colorado Springs | Englewood | Fort Collins | Grand Junction | Highlands Ranch | Lakewood | Littleton | Longmont | Manitou Springs | Monument | Parker | Pueblo | Thornton | Westminster | Wheat Ridge | Woodland Park Found in Real Estate, Agents and Agencies in Denver CO Denver Colorado Real Estate Search online for Denver homes for sale, MLS listings, and real estate at Colorado HomeFinder. Denver Colorado Real Estate PAGE STATUS: 7.01 FIRST LISTED: 1/11/2005 Found in Real Estate, Agents and Agencies in Boulder CO Boulder Colorado Real Estate Search online for Boulder homes for sale, MLS listings, and real estate at Colorado HomeFinder. Boulder Colorado Real Estate PAGE STATUS: 7.00 FIRST LISTED: 1/11/2005 Found in Real Estate, Agents and Agencies in Denver CO Denver Real Estate - Shelley Forsyth Realtor Shelley shares the techniques she uses to sell your home for top dollar, and locate your dream home. Denver Real Estate - Shelley Forsyth Realtor PAGE STATUS: 7.00 FIRST LISTED: 8/30/2004 Found in Real Estate, Agents and Agencies in Denver CO Max Castillo, Broker Associate, RE/MAX Masters Inc. Someone to help you find the right house for YOU, a house that you can call a home. Max Castillo, Broker Associate, RE/MAX Masters Inc. PAGE STATUS: 6.91 FIRST LISTED: 10/7/2001 Found in Real Estate in Central City CO Prospector's Run Prospector's Run is a luxury mountain townhome community. PAGE STATUS: 6.90 FIRST LISTED: 10/21/2004 Found in Real Estate in Louisville CO Accurate Inspection Services, Inc. Inspections. 853 West Chestnut Cir. Louisville, CO 80027 (303) 661-9754 Accurate Inspection Services, Inc. PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Denver CO Advantage Team Home Inspection Co home inspection Home inspection. P.O. Box 44334 Denver, CO 80201 (720) 407-0756 Advantage Team Home Inspection Co PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Aurora CO Amber Homes - Shadow Creek 22495 E Plymouth Cr. Aurora, CO 80016 (303) 400-0695 Amber Homes - Shadow Creek PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Arvada CO Apex Real Estate Inspectors Inc Professional home inspections for residential homes, town houses, condominiums, commercial properties, real estate and more in Colorado. 12639 W 84th Dr. Arvada, CO 80005 (303) 840-2477 Apex Real Estate Inspectors Inc PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Denver CO Arnold Homes, Inc. 3650 S Yosemite St #410 Denver, CO 80237 (303) 771-6666 Arnold Homes, Inc. PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Castle Rock CO Assist 2 Sell 21 Wilcox St. Castle Rock, CO 80104 (303) 681-3080 Assist 2 Sell PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Found in Real Estate in Denver CO Bells Home Inspection Service Gas leaks / Carbon monoxide, housing construction, framing, remodeling, industrial iron, interior inspection, Fences / Gates, Fuel system, Insulation / Attics. 226 S Hazel Ct. Denver, CO 80219 (303) 922-9164 Bells Home Inspection Service PAGE STATUS: 6.80 FIRST LISTED: 10/15/2004 Please_send_comments_&_suggestions_to: citystar_support search | site_map | add_your_site | about_us

Land Loans If you're

VSECU - Land and Construction Loans RATES LOANS SERVICES DEPOSITS HELP ABOUT HOME You are Here: Home >> Loans >> Land and Construction Loans Land and Construction Loans Land Loans If you're planning to someday build your own home and have found the perfect land to do so, acquiring the land may be the first step in that process. A land loan mortgage is available to secure your dream lot, whether you're ready to build now or six years from now. The land you choose to finance must meet certain eligibility requirements such as: The building lot must be suitable for residential construction for a 1-2 unit home as your primary residence in Vermont or New Hampshire You building lot must have passed a perc test The total acreage cannot exceed 25 acres All land loans are adjustable rate mortgages and require a 20% down payment. Construction Loans If you’re ready to start building a new home this is the right loan for you. A construction loan is available for both new construction and the improvement of certain residential property in Vermont and New Hampshire. All construction loans are adjustable rate mortgages and require a 5% down payment. Requirements For construction projects where you'll be improving the energy efficiency of your home, you may want to consider our Energy Improvement Loan . Please contact a mortgage originator for more details on Land or Construction loan options. Apply Today See our online application ! © 2005, VSECU. All Rights Reserved. Additional Resources Current Rates & Terms Meet Our Mortgage Originators Energy Improvement Loan Apply Now! What Will My Loan Payments Be? Use Our Online Calculators Auto Loans Mortgage Loans Home Equity Credit Cards Other Types of Loans Search VSECU.com FREE VSECU CLASSIFIEDS BOOM! OUR TEEN WEBSITE CONTACT US PRIVACY & TERMS OF USE FAQ | FEEDBACK

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