Environmentally friendly Lake Michigan property continues to gain favor among buyers seeking residences that are also considerate to the earth.  What’s more, the emergence of energy efficient mortgages (EEM) offers an incentive to buyers since these loans are more affordable.  Nowadays all the major lenders like the Federal Housing Association and Fannie Mae offer some kind of EEM.

Choosing an EEM also means that should you decide to make upgrades on your Lake Michigan property, the interest rates you pay on these mortgages can be used as a tax deduction as well as a means of financing additional home improvement projects.  Generally these projects are intended to further improve the energy efficiency of your home and are a great means of staying away from credit cards.

Although they result in additional money in your pocket and earth benefits, an EEM will require that you fill out additional paperwork than a traditional mortgage and the processing may end up being longer than what's customary.  Also, to actually qualify for one of these your Lake Michigan property must be verified by a Home Energy Rating System.  If you don’t mind these hurdles, an EEM is definitely worth exploring.