energy star

What is a Green Home Mortgage?

Technically, a mortgage can't really be "green", but it's the things that you do with the mortgage that is.

A Green Mortgage, also known as an Energy Efficient Mortgage (EEM), is a mortgage sponsored by the federal government which incorporates a credit allowing you to improve the energy efficiency of either a new home, an existing home, or, will help in qualifying a person for a home that is already meets energy efficiency guidelines.

The Green Mortgage Process is very much like that of a traditional mortgage, except that it requires an energy audit to be performed on the property being purchased.

Green Mortgages cost the same as a conventional mortgage, with the exception of the added cost of the energy audit. In fact, the mortgage may save you money due to all the great tax incentives that are being offered for making energy efficient changes to your home.

The Green Mortgage Company, will also reward each applicant after they close on their loan, with a reimbursement of the cost of the energy audit, up to $300.

Green mortgages help the environment

Though you may or may not be an environmentalist, the added bonus of getting a green mortgage is the fact that it does help conserve energy consumption, which in turn, helps the environment that we live in.

If we can save some money by improving our electricity bill with really, no extra costs to us, why not? Everyone benefits, a little extra money, a cooler home, and the environment gets a break.