While speaking to Florida Homebuyer magazine Greg Hardwick, Green Building Committee chair at the HBA, says a resurgence of energy-efficient mortgages could be a great benefit to the green building industry as a whole, and it appears the forgotten lending stepchild is about to get another shot at the mainstream. Although Fannie Mae, Freddie Mac and the FHA all have had versions of energy-efficient mortgages available for years, they were seldom used. However, Secretary of Housing and Urban Development Shaun Donovan said he wants to develop “a relatively simple scoring system for housing” that would help buyers understand what they are buying and allow lenders to offer higher loan amounts for buyers to make energy-conserving improvements or lower mortgage rates for energy-efficient homes. Adds Hardwick, “The next step is how we tackle the appraisal value of energy-efficient homes.”
To learn more about mortgage programs for energy efficient-homes go to OrlandoMortgageCentral.com