More good news to buyers who have an interest in buying a "greener" home! Not only will you be saving money on your monthly energy expense, you can now get a discount from the lender when purchasing that home.
The new Eco Friendly Loans through PHA and Fannie Mae are available now.
J. P. Morgan/Chase and Bank of America are now offering a discount to the Buyer (Chase up to $1000 towards closing cost) if they purchase a home with Energy Star rated appliances. Imagine if you are a first time home buyer or an existing home owner who has owned a home for over the past eight years. You could get a $8000 tax credit plus $1000 towards closing and interest rates are still hovering right a 5%, 4.875 to be exact.
Most of our local lender/brokers, use Chase and Bank of America, so they do have access to the loan discount. Well Fargo may also have, but I have not checked with them. If you know, please update me.
Hope this information is helpful to you.
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