May 28, 2017

Green Mortgages

Don’t think you can benefit from a “Green Mortgage”? We’ll prove you wrong.

Though the general public is just now becoming aware of green mortgages, they’ve actually been around for decades. They are also referred to as Energy Efficient Mortgages or Energy Improvement Mortgages.

A green mortgage allows you to roll in the costs of making specific energy saving improvements to the home you are building or purchasing. This will, of course, increase your monthly mortgage payment but since because these improvements will drastically lower your energy, gas and water consumption, your monthly utilities will decrease even more so than your mortgage. Saving you money every month.

Besides lowering your total monthly bills, you will be eligible to receive tax credits from the federal and local governments for many of your improvements. You properties resale value may actually increase due to the improvements and having an energy efficient home will make the home more attractive to potential home buyers should you decide to sell your home.

Green Mortgages Lower Your Monthly Bills

           

Individual monthly savings will differ depending on the degree of the property’s energy efficiency. We’ve seen instances where the home energy efficiency improvements have led to monthly savings of $400 and greater.

Adding energy features such as solar panels and even residential wind turbines have allowed some green mortgage holders to be free of monthly electric bills altogether. Some companies will even pay you if your home generates more electricity than you use by giving the unused portion back to the grid.

Energy Efficient homes not only save you money, they are healthier to live in too. You may be thinking to yourselves “how exactly can energy efficient homes be healthier to live in”. Obviously, it’s healthier for the environment, but how does it effect my home?

The Answer is Better Indoor Air Quality

One of the most common places for a loss of heating and air conditioning is through your air ducts which run though out your home’s attic and ceilings and walls. In fact, leaking ducts account for a reduction of energy efficiency of up to 10 to 30%. That means that up to one third of the money you spend on your heating bill is going down the drain (or out your ducts) in this case.

Your energy audit will detect these leaks and once repaired, you will see an improvement in the quality of the air that you and your family breathes on a daily basis.

Improperly sealed air ducts not only lose good air, but pull in the bad. Chemicals such as methane or carbon monoxide can come in from outdoors or basements and send those harmful chemicals into your HVAC system and directly into the rooms you live in. The same also applies to other hazards such as dust, fertilizers allergens, and pesticides.