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Article: `Green mortgages' taking root ; Loans that push energy efficiency could make homes more affordable
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 15, 2007
- Author:
CopyrightCopyright 2007 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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First came green homes. Now comes a mortgage to match.
So-called green mortgages are the latest innovation in the push
to promote more energy-efficient houses, whose owners enjoy lower
utility costs thanks to solar panels, improved insulation,
thermopane windows, and other money-saving products. Also called
energy-efficient mortgages, they allow home buyers to qualify for
larger loans on the premise that they can afford higher monthly
payments due to what they save on heat, water, and other utilities.
In effect, the mortgages pass energy savings on to homeowners in
the form of increased buying power.
"It's the most efficient way to allow people to capitalize on the
value that green homes ...