Going Green with Your Home Loan

One of the things that I am interested in is how environmentally friendly finances are also ethical finances. It's amazing how you can find opportunities to make or save money while still adhering to good environmental standards. One such way is through green mortgages. The Wall Street Journal is reporting that major companies offer incentives for you to make your home more energy efficient:

"Last month, Citigroup Inc.'s mortgage division launched a program that offers $1,000 off closing costs with its energy-efficient mortgage through the end of the year. Also last month, Bank of America Corp. launched an Energy Credit mortgage, which offers a $1,000 credit toward closing fees for mortgages on new homes that meet efficiency requirements set by the government's Energy Star program. J.P. Morgan Chase & Co.'s mortgage division recently began offering Expanded Energy Conservation Mortgages in some markets that give borrowers more credit, as well as $500 off closing costs, if they find a builder who will use a specific type of spray-foam insulation."

This is great because you not only save money (and help the planet) up front, but you will also save money over the long term as you spend less on utilities. It is also worth noting that many smaller local lenders, from Sedona, Arizona to Kapolei, Hawaii also offer such green mortgages. And you will find that the green building trend is alive and well in cities like New York City, Baton Rouge, Aspen, San Francisco and beyond.