Green Mortgage Incentive
Allow mortgage lenders to increase the amount (% of debt to income) that they can lend to a home buyer if the home has alternative energy such as net metering. The increase would be based on the percentage of the utility costs that are reduced by the green system. EX. Average utility costs of $200.00 per month. An additional $40,000.00 borrowed at 3.75% interest over 30 years used to install a green energy system would increase the buyers monthly mortgage payment by only $185.25, less than their conventional monthly utility bill. This would be a huge incentive to home owners and developers to install these systems without costing the tax payer and without increasing the risk to lenders.
Why is this important?
A simple answer to implimenting Green Energy
