al green building is no longer a trend — it is the future of building.
According to the National Association of Homebuilders’ Green.org, most builders are using green building practices in their homes as part of their current standard practices; ENERGY STAR® windows and appliances, recycled content materials, and water-conserving fixtures are all important parts of a green built home. There are many green retrofits that can be added to existing homes as well.
According to US Green Building Council, buildings in the United States are responsible for
39% of CO2 emissions, 40% of energy consumption, 13% water consumption
and 15% of GDP per year, making green building a source of significant
economic and environmental opportunity. Greater building efficiency can
meet 85% of future U.S. demand for energy, and a national commitment to
green building has the potential to generate 2.5 million American jobs.
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Green Mortgages and Energy Efficient Mortgages
What’s a “Green Mortgage”? it’s not what you might think. It is not a marketing or public relations effort. It is a program backed by private and government mortgage programs designed to help you make your home more energy efficient.
Green, or “Energy efficient” mortgages, let you borrow extra money to pay for energy efficient upgrades to your current home or a new or old home that you plan to buy. The result is a more environmentally friendly living space that uses fewer resources for heating and cooling and has dramatically lower utility costs. The types of things that are covered include upgrades that you may have thought you couldn’t afford like double paned windows, tankless water heaters, modern HVAC systems, and new insulation.
At this time, Energy Efficient Mortgages aren’t second mortgages. Though they are created separately from your primary mortgage, they are ultimately rolled into your primary mortgage—so you only make only one payment per month.
Find out more at Mortgageloan.com.
How do you find lenders who can give you an Energy Efficient Mortgage or EE? Even though EEMs have been available for many years, HUD has not widely promoted their existence or benefits. For that reason, many real estate professionals are not familiar with them. Your current lender may in fact offer an EEM and not even realize it. In fact, all FHA approved lenders can offer EEMs.
It’s probably worth your while, though, to search for a lender who is familiar with the ins and outs of EEM’s and can really guide you through the process. Here you can access an EEM lender database.