Green Home Loans

From on July 03, 2008 in Green Remodeling

green-home.jpgWith rising energy costs, many of us are becoming more aware and concerned about green methods of living. This attention to the issue has prompted Congress to take a fresh look at offering incentives to those looking to incorporate more green materials and products into their building or remodeling project.

In the past couple of months, Green Resources for Energy Efficient Neighborhoods (G.R.E.E.N.), an organization committed to furthering the green effort, presented bills to Congress that offer incentives to lenders and financial institutions to encourage them to offer lower interest rates to homeowners that strive to improve energy efficiency within their homes.

Going green when building or remodeling can incur more time and money than more traditional methods. Our lawmakers are aware of this, and are actively looking to find ways to make it more affordable and a more attractive choice for consumers. The EPA website offers numerous links and resources to government building incentives, grants and tax breaks for those interested in more environmentally friendly alternatives. There are various incentives on the state and local level as well. Research your individual state and city before you buy or build to see what programs are available to you.

If you are planning to build or remodel, research what lenders are already offering green incentives. Until the proposed bills are passed, only an elite few lenders are even offering these programs. However, that is destined to change with mortgage companies beginning to realize this is an opportunistic market for them. Request free estimates from pre-screened contractors in your area to determine how much your project will cost while you are completing the loan process.