PolySteel offers nationwide energy-efficient mortgage program

PolySteel and First Federal Bank have developed a new program that will be available nationwide* and will help new PolySteel homeowners obtain money saving financing. The program is called PolySteel Energy Efficient Mortgage Program. People interested in building a home using PolySteel insulated concrete forms can fill out an application by visiting www.polysteel.com 

The program is unique because it increases the income to debt ratio allowing a customer to qualify for a larger mortgage due to energy efficiency credits. First Federal Bank has created a construction loan that rolls three loans into one. The owner/builder obtains a loan through First Federal; the loan pays for the purchase or payoff of the lot, construction of the home and then permanent financing. 

Homeowners can save money on closing costs with one closing. The options are to use the loan with a builder, or build their own home. The bank considers homeowner's time and labor as a down payment. Homeowners can also finance closing costs, finance construction interest and 10 draws will be available during construction.

First Federal Bank is also offering a coupon to be presented at the time of application. A $250 credit at closing will be available to people who apply for the Energy Efficient Mortgage Program and build a PolySteel home. 

The program has been successful in Wisconsin. Homeowners, Mathew and Cindy Kari, of Hudson, Wisconsin stated, "We built our home using the PolySteel form system for the entire house. Using the construction/perm financing program and some hard work, our home appraised at $325,000 and the cost of our home was $275,000. Everything that the PolySteel Representative told us about working with them and using the PolySteel system was true. They did everything that they said they would do." 

The new PolySteel Energy Efficient Mortgage Program available through First Federal Bank will help homeowners obtain financing for their PolySteel home. The program will make the construction process easier for the owner/builder by letting the homeowner concentrate on their new home, rather than financing. An application for the program is available online under "financing" at www.polysteel.com.

*Program is not available in Alaska or Hawaii.