The U.S. consumes 20% of the world’s electricity and lighting electricity is one of the main drivers of such high consumption. Heating and cooling are also big guzzlers and account for 70% of the energy used at home. Therefore it is essential to make electricity usage more efficient, alongside switching to renewable alternative energy.
The concept of a green mortgage is fairly simple. “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†says Mortage Loan on its comprehensive guide to green and energy efficient mortgages.
Basically, green mortgages are schemes whereby homeowners can borrow extra money to pay for energy efficient upgrades to a current home or a new or old home they intend to buy. Those upgrades could include double paned windows, tankless water heaters, modern HVAC systems and new insulation, to name but a few.
Green mortgages are not second mortgages. They are created separately from the primary mortgage but are then incorporated into it so only one payment goes out every month. Most people who are eligible for a regular mortgage will be eligible for a green mortgage. Just ask your provider.
Visit Mortgage Loan to find out more green, energy efficient mortgages.
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