A “Green Mortgage?”

What could that possibly mean?  An important step forward is taking place in the mortgage industry.  We are beginning to see offerings of mortgages for homeowners who have incorporated energy-efficient features into their homes. 

The concept is that by promoting more use of “green features” such as insulated windows and solar panels, the homeowner will be given more buying power based upon his energy savings. 

In a simple form, a bank offers a discount on closing costs to buyers of energy efficient homes.  In a more complex form, the buyer will be allowed to borrow a larger percentage of his/her monthly income, due to the savings they will realize by incorporating programmable thermostats, energy-efficient appliances, etc. into the home.

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