energy star

Green Mortgages

Don't think you can benefit from a "Green Mortgage"? We'll prove you wrong.

Though the general public is just now becoming aware of green mortgages, they've actually been around for decades. They are also referred to as Energy Efficient Mortgages or Energy Improvement Mortgages.

A green mortgage allows you to roll in the costs of making specific energy saving improvements to the home you are building or purchasing. This will, of course, increase your monthly mortgage payment but since because these improvements will drastically lower your energy, gas and water consumption, your monthly utilities will decrease even more so than your mortgage. Saving you money every month.

Besides lowering your total monthly bills, you will be eligible to receive tax credits from the federal and local governments for many of your improvements. You properties resale value may actually increase due to the improvements and having an energy efficient home will make the home more attractive to potential home buyers should you decide to sell your home.

Green Mortgages Lower your Monthly Bills

  Non- Energy Efficient Home Energy Efficient Home
Purchase Price 200,000 200,000
Loan amount 200,000 209,000
Interest 5.85% 5.85%
Monthly Payment 1179.88 1232.98
Total Avg Utility Bills 265.00 111.00
Total Monthly Expenses 1,444.88 1,343.98
Monthly Savings:   $ 100.90
Yearly Savings:   $ 1,210.80

Individual monthly savings will differ depending on the degree of the property's energy efficiency. We've seen instances where the home energy efficiency improvements have led to monthly savings of $400 and greater.

Adding energy features such as solar panels and even residential wind turbines have allowed some green mortgage holders to be free of monthly electric bills altogether. Some companies will even pay you if your home generates more electricity than you use by giving the unused portion back to the grid.

Energy Efficient homes not only save you money, they are healthier to live in too. Read "Efficient & Healthy Homes" to learn how.