Finally Time For Lenders To Support Green Building?

There was  an article last week in our local paper, the Mail Tribune, that talked about Earth Advantage and Countrywide Home Loans joining together to offer a reduced interest rate to their homeowners who wish to build their homes to Energy Star®, Earth Advantage® or L.E.E.D. standards, with their project being certified by an independent third party, Earth Advantage®. I've contacted my Countrywide Rep to verify the specifics of this agreement, and to see if they will be making this program available to us on their B2B side, but have not yet heard back from them. I'll update this article if I find out anything pertinent.

For now, the article says Countrywide will reduce their interest rate for qualifying borrowers building to these standards by 1/8%. At Quality Home Loans, Inc., we've been offering to reduce the borrowers' fee by 1/2%, so they may choose to apply the savings to their costs OR buy the interest rate down - their choice. This way, we may still shop their interest rate at all the lenders instead of being bound to one company's programs/ terms, and the homeowner may choose any loan program we offer to apply their savings to.

Jason McLennan, CEO of Cascadia Region Green Building Council, believes we need an all out approach. He strongly advocates building Living Buildings, both residential and commercial, that use rain catchment systems with on-site waste treatment systems, have net-zero energy use completely powered by solar energy, and contain only non-toxic construction materials.

Life is about choices. Which door will you choose?

We need to make an extra effort to support those homeowners choosing to build or purchase existing homes that meet these higher standards, as well as the Builders who are building them and the Architects that are designing them. Do you agree?

This Green Train is steaming along...All Aboard!!!!!!!

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com