As we discussed awhile back in our article on Green Homes, “going green” is becoming increasingly popular. For residents of the west coast, being green is near the top of the list when looking at real estate, especially in the younger demographic. The Northwest, with Portland and Seattle leading the way, and making appearances on virtually every green city shortlist, is an ideal area for finding an environmentally-friendly residence. While newer constructions are generally pushing the efficiency envelope, what is the alternative should that type of property be in short supply? What if you find the home of your dreams, but it’s far from being green-friendly? The answer may be in a green mortgage, also known as an Energy Efficient Mortgage.
These type of environmentally sound loans can add the cost of energy efficient improvements into your home loan on both purchase and refinance transactions. Depending on what you qualify for a green home loan can fall under the government programs FHA or VA, or a more conventional loan under Freddie Mac. The upgrades that qualify may vary from program to program. To learn more, visit our Green Mortgage page for more information. And, as always, to find out what you qualify for, or to get the process started, contact one of our loan officers.