How do Green Mortgages differ from traditional mortgages?

As I browse the internet for Green Mortgage resource’s I see many different takes on what a “Green Mortgage” is. There is indeed Green Mortgage financing called (EEM’s) which are Energy Efficient Mortgages. In the future the cost of energy will continue to riseand I suppose someone could make a living solely originating EEM’s, however, at this time there just isn’t enough demand for this service. As I analyze my Mortgage Business and my value proposition I bring to my clients, I decided to outline how I approach the Green Mortgage Industry. (And how I intend to put it on the map)

Step 1: A loan is a loan.

You pay it back with interest.

A “Green” mortgage broker will conduct business in a way that minimizes his impact on the environment. It illustrates, if nothing else, that anyone in any business can “go green” and do their part. The same consumer who wants to buy a geothermal system or a Solar Energy system because of the long term environmental benefits, when given the choice between two sources for their mortgage – both offering competitive rates and a high level of service – would rather deal with the company or the individual who is not only creating a better experience through the use of technology, but minimizing their impact on the environment. It’s really about like-minded individuals furthering the cause.

Part 2: The Nuts and Bolts-

Fannie Mae and Freddie Mac have a program that allows socially responsible borrowers to finance “Green” components for their home. For example, a buyer could elect to have a GHSP or solar panels installed in their new home while the cost is rolled into their mortgage. Of course there are guidelines and restrictions, but the idea is to promote energy efficient systems such as solar panels, tank-less water heaters and so forth.

Where I am at, I can just make a much larger difference at this time by leading by example and knocking down the walls to innovate my industry. Just like a business titan such as John Chambers with Cisco or Google investing in Green technology, we can all make a difference where we are at.

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