SS Single-Family Memo 13-03
Date: May 31, 2013
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
Amended Energy Standards
Energy Efficiency Interest Rate Reduction (EEIRR)
Section 2001 and Section 7002
AHFC’s Board of Directors has adopted a new Building Energy Efficiency Standard (BEES) that includes the 2012 International Energy Conservation Code with Alaska Specific Amendments. The BEES minimum standard will increase from 4 Star + to 5 Star and the Home Energy Rating System will include a 6 Star rating.
A brief synopsis of the changes is attached and a revised PUR-101 is being released with this memorandum. Sections 2001 and 7002 of the selling guide will be updated and scheduled to release concurrently with the new standard.
The effective date for the new standard is July 1, 2013. Accordingly, the interest rate reduction for energy efficient properties is amended as follows:
1. New Construction – 5 Star homes
Submissions for newly constructed homes with an energy rating of 5 Star must be received by AHFC for commitment no later than June 30, 2013 in order to obtain a rate reduction of either .250% or .375%. Construction of the home must also have begun no later than June 30, 2013. Submissions for commitments received after June 30, 2013 will not be eligible for any rate reduction and should be underwritten at the full rate at the time of submission to AHFC.
2. New Construction – 5 Star + and 6 Star homes
Newly constructed homes, started after June 30, 2013, with an energy rating that exceeds the minimum standard of 5 Star will be eligible for a rate reduction of either .250% or .375% for 5 Star + and .375% or .500% for 6 Star.
3. Existing Construction – 5 Star homes
Submissions for existing construction with an energy rating of 5 Star must be received by AHFC for commitment no later than June 30, 2013 in order to obtain a rate reduction of either .125% or .250%.
Revised Form PUR-101
Form PUR-101 is revised to coincide with the changes to BEES. The revised form will accommodate certification for the new standard effective July 1, 2013 and for the prior standard.
FORMS GUIDE REVISIONS: CONTACT UNDERWRITING
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