About
Chicago Mortgage News is presented by David Monroe; Investor, Environmentalist, Entrepreneur and Mortgage Banker. He shares his research on rates and other market conditions with you on this website.
To quote one of our Founding Fathers, a penny saved is a penny earned. A traditional Mortgage Banker would limit his money saving assistance to working out lower monthly mortgage payments for his customers. That is a good place to start, but why stop there? Homeowners have ever-increasing utility payments to deal with along with their mortgage payment.
One of David’s specialties is Energy Efficient Mortgages, or EEMs. In the past 30 years, energy prices have risen more than tenfold. During the same timespan, the cost of energy production from wind, solar and geothermal has dropped even more; about 100-fold in the price per watt for producing electricity using photovoltaics. Whether you are adding these renewable energy systems to new construction or doing a retrofit, if properly done, you’ll save more on monthly utility costs than you’ll spend on financing the addition of renewable energy systems.
Some homeowners are saving 75% or more on their monthly utility bills. In a climate like Chicago, we have sub-tropic heat in the summer and sub-arctic cold in the winter. We go from large heating bills to large cooling bills. Even under these extremes, a well-insulated home with a professionally installed ground source geothermal HVAC system can go from averaging $200 per month on heating and cooling costs to $40 to $50 or less!
If you’d like to contact David, click on the “Contact Us” link and fill out the contact form, then hit the “Send” button at the bottom of the page. I will get back to you as soon as possible.
