What is a Green Home Loan?
A green home loan is a type of mortgage that can help you finance eco-friendly and energy efficient, a.k.a. “green,” updates and/or repairs to your current home or a home you plan to purchase. A green home loan can simplify the mortgage process by rolling the financing for purchase and repair costs into one loan. There are several types of loans that can be used to finance green renovations, including:
Both conventional and jumbo loans are available in fixed- and adjustable-rate mortgage (ARM) options. Conventional mortgages meet loan limits regulated by Fannie Mae and Freddie Mac while jumbo loans can help finance homes that exceed these limits. Each option can help homebuyers add things like solar panels and energy-saving systems in their homes.
If you want to make energy efficient improvements to your current home, a renovation loan can help. Popular green renovation mortgage options include Fannie Mae HomeStyle® and Freddie Mac CHOICERenovation® loans. These mortgages can also be used by homebuyers seeking to purchase and renovate a home.
Federal Housing Administration (FHA) and United States Department of Agriculture (USDA) loans are mortgage options popular among first-time homebuyers and lower-income borrowers. With low to no down payment requirements and flexible credit requirements, these government-backed loans can help you reach your green home goals.
How Can I Use a Green Mortgage?
A green mortgage can be used to purchase a home that you plan to make green improvements to or to make green upgrades to a home you already own. Common projects a green home loan can finance include:
- Solar panels
- Energy-efficient windows and doors
- Roof, floor, or wall insulation
- Energy-saving HVAC systems and appliances
Why PrimeLending?
PrimeLending is a people-first company driven by the belief that getting a mortgage should be an exciting and positive experience. That’s why we focus on making the home loan process as simple as possible.
putting people first
Since 1986, PrimeLending has kept our focus on people, their homes, and their financial well-being now and in the future.
Service Beyond Expectations
You need a lender you can trust; that’s why we offer more green home loan programs to help you find the right fit.
Expertise and Support
We will be by your side throughout the entire mortgage process to help you reach your home financing goals.
Learn more about your green home loan options in our guide
Thank you
for your interest in PrimeLending.
