Green Loans

Published On: September 14, 2011


Green lending??  Not referring to the color of money but the energy efficiency of a home!  There are dollars available to retrofit a home with more insulation, better windows and doors, high efficiency furnaces, etc.  This type of financing is not used much but with energy prices rising, perhaps it’s time more people considered it.  How does it work??  If you are buying a home that needs some improvements, you will need to have the home rated by a trained professional called an "energy rater".  Once the rater has made recommendations for improvements, a buyer can apply for the mortgage plus the cost of the improvements.  The extra money will go into an escrow account and when the improvements have been completed and inspected, the contractor(s) will be paid.  And you get a home that potentially will be less expensive to heat and cool!  That is cool.  One resource is:  www.greenresourcecouncil.org