Issue link: https://read.dmtmag.com/i/594075
NOVEMBER 2015 23 THE JOURNAL Key Mortgage Company joined the SmartMH KY Alliance, a partnership of the manufactured housing industry, lenders, retail- ers, utilities, nonprofits and public stakeholders committed to increasing access to ENERGY STAR homes with better loans across the Com- monwealth. As a SmartMH KY Partner, Key Mortgage joins a new initiative in Kentucky to stimulate the marketplace for energy-efficient manufactured homes that come with flexible financing to save homeowners money. Key Mortgage in partnership with the SmartMH KY Alliance is expanding the impact of a new ENERGY STAR upgrade program ad- ministered by the Systems Building Research Al- liance. Supported by incentives from participating utilities and Kentucky Housing Cor- poration, participating factories will offer the ENERGY STAR upgrade for a small cost or no additional cost to homebuyers in Kentucky. While manufacturers receive the incentives, the real people that benefit are homebuyers. Homebuyers that finance their ENERGY STAR manufactured homes with SmartMH loans gain the added value of a quality financing product. ENERGY STAR homes lower utility bills, pro- viding thousands of dollars in savings over the life of a home. They are also more comfortable, qui- eter, require less maintenance and have a higher resale value. Manufactured homes are an important source of affordable housing for Kentuckians, account- ing for 14% of the state's overall residential stock. About 2,000 manufactured homes are sold in Kentucky each year with less than 1% cer- tified as ENERGY STAR. Homes not certified as ENERGY STAR are more expensive to own and operate, and as a result place strain on families that could benefit from energy cost savings and lowered monthly housing expenses. Key Mort- gage has been in the business of providing loans to homebuyers for nearly a decade. Darrell Over- street, President of Key Mortgage, said that he joined the SmartMH KY Alliance because the initiative provides an opportunity for lenders to pass significant savings on to the borrower. "Homebuyers can purchase a better quality, ENERGY STAR home with less utility expense through participating in the upgrade program," said Overstreet. "This creates a ripple effect be- cause borrowers that have a higher standard of living will help the community as a whole." Louisville-based nonprofit, Next Step Network, is sponsoring the SmartMH KY Alliance. Next Step is identifying loan products through lenders like Key Mortgage that meet the SmartMH mission for customers buying ENERGY STAR manufactured homes in Kentucky. SmartMH loans provide benefits like good rates, better terms and assistance with down payment or utility costs. SmartMH loans are currently available through Kentucky Housing Corpora- tion, Key Mortgage Company and CU Factory Built Lending. As a result of SmartMH loan products and the ENERGY STAR upgrade program, it is projected that ENERGY STAR manufactured home ship- ments in Kentucky will increase from less than 1% to 50% in two years. This has the potential to deeply impact the approach to energy efficiency within Kentucky's marketplace, and the result- ing benefits will extend to homebuyers and the communities in which they live. For more information o n how homebuyers can participate, visit www.SmartMH.org. HomeCarePlus "The Perfect Addition to Your Home Sales" An Exclusive Warranty For: Manufactured/Modular/ Park Model Homes "A Complete Package Designed for Today's Homes" HomeCarePlus A Warranty Program designed to eliminate Costly Repair Expenses on: Structure, Electrical, Plumbing, Heating, A/C & Appliances HomeCarePlus (800) 851-3738 Office (651) 458-2905 Fax diversifiedprofits@comcast.net No. 12 on Get It Quick Page Recognized As the Industry Standard for Manufactured Home Community Market Data 2015 JLT Market Reports Now Updated for California and Texas Call 800.588.5426 www.DatacompUSA.com/JLT • Rents and Increases • Community Rankings • Occupancy Rates Detailed research on investment grade communities in 75+ markets nationwide, including the latest rent trends, occupancy stats, and other valuable management insights. • Amenities & Services • Historical Data • Marketing Programs Visit Our Website for a FREE Sample Report Valuation | Research | Market Data Key Mortgage Joins Energy Efficiency Initiative for Manufactured Housing No. 11 on Get It Quick Page