Despite the fact that there are some housing market woes, green building remains a trend. You can take advantage of programs offered by some mortgage lenders for being environmentally friendly. They’re called “green mortgages,” and many of them can be great bargains.
Different mortgage lenders offer different programs, but in general, here are some of the perks that you can get by going with a green mortgage:
- Reduced closing costs.
- Money of the loan origination.
- Subsidized mortgages for state governments for green homes.
- “Points” toward your interest rate.
And you don’t have to buy a new home for this to work, either. Some mortgage lenders are offering deals on home equity loans and lines of credit if you are adding environmentally friendly upgrades to your home. Don’t forget that there are state and local tax breaks when you add green upgrades to your home as well.
Before you decide on a home mortgage loan, take a look at green mortgages. Call local mortgage lenders and see what they have to offer. You may be surprised by the deal you can get.