GreenLiving for a green home
Maybe you’ve sworn off using plastic water bottles and single-use coffee cups and you’re pretty sure you know everything there is to know about what can and can’t be recycled — so what’s next in your quest to go green? Think: your home.
Replacing appliances, windows, HVAC systems, insulation, etc., can significantly reduce your carbon footprint — and your utility bills. But similar to the phrase, “you’ve gotta spend money to make money,” making your home energy-efficient comes with a cost.
While there’s a huge potential to save on month-to-month utilities down the road, many people are hesitant about covering those upfront costs. And because it’s not something that they need to address immediately, many homeowners never make the leap over that initial-cost hurdle.
That’s why we offer our GreenLiving program. It lets you roll energy improvements into your mortgage. You can learn more about GreenLiving below or you can get started by contacting a renovation specialist today.
Go green, save green with GreenLiving
Our GreenLiving program is essentially a renovation loan, allowing you to finance energy improvements. Designed to help you reach your goals of sustainability and energy efficiency, GreenLiving is great for an older home or a fixer-upper.
After you receive financing for your sustainable upgrades, you may be able to enjoy savings from lower monthly utility costs. These types of environmentally-friendly upgrades have been shown to improve a home’s value.
Different types of GreenLiving loans
Available with several loan types, GreenLiving loans offer flexibility, ensuring there’s an option for every type of homebuyer. You can close a GreenLiving loan through conventional loans, which typically offer lower interest rates, but may require a higher credit score and down payment.
An FHA loan is a great option if you’re looking for lower down payment requirements or have a lower credit score. For those who have served or are serving in the military, VA loans provide benefits like no down payment and reduced closing costs. With these options, GreenLiving loans make it easier to find the right fit for your financial situation and homeownership goals.
“Green” your home with these projects
Almost every project you could undertake to make your home more environmentally-friendly and sustainable isn’t just good for the planet — it’s also good for your budget in the long run, helping you save on energy and water usage. Here are a few of the most common upgrades you can make.
- Programmable thermostats
- Caulking or weatherstripping
- Ceiling, wall or floor insulation
- Air sealing
- Air conditioning/heating replacement to high efficiency
- Solar water heaters
- Low-flow water fixtures
- High-efficiency refrigerators, water heaters and light bulbs
- Replacement of windows and doors
Transitioning to an eco-friendly home is more achievable than you might think — it doesn’t have to be a goal that’s years away. Whatever energy-efficient upgrades you're considering, there are financing options available to help you make it a reality sooner than later. Speak with a renovation specialist today to explore the various loan programs and incentives designed to support your journey toward a sustainable, energy-efficient home.
Eligible borrowers may use renovation financing to fund certain approved energy efficiency improvements. The amount of financing approved for use toward energy efficiency and whether an energy report is required varies by loan type and investor. Minimum down payment, FICO score, and property type restrictions apply. Applicant subject to underwriting and credit approval. Renovation loans are available from Rate renovation certified loan officers. Additional restrictions apply.
Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact Rate for current rates. Restrictions apply.
Rate is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the Nevada Department of Veterans Services, the US Department of Agriculture, or any other government agency. No compensation can be received for advising or assisting another person with a matter relating to veterans’ benefits except as authorized under Title 38 of the United States Code.
